Highlights

  • Bitcoin is down 60% from record high
  • Collapse of Terra pushed investors away from digital tokens

Latest news

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Has Bitcoin bottomed out? Crypto snaps losing streak

Crypto has continued to move in tandem with US stocks that moved higher overnight. 

In the latest news on Bitcoin, the crypto was staging a comeback. Bitcoin (BTC) was higher Monday, after snapping a record nine-week losing streak. Bitcoin rallied 6%in 24 hours, to about $31,500.

Bitcoin has more than halved since hitting its all-time high of $68,982.20 in November. It was trading in a tight range this year before falling below $30,000 this month after the Terra collapse.

JPMorgan strategist in the US sees an over 30% jump in the digital token from here as the Bitcoin seems 'oversold' in their opinion.

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