Bitcoin back under pressure as crypto bear market looms

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Bitcoin back under pressure as crypto bear market looms

The world’s largest cryptocurrency has recovered slightly to sit slightly above US$42,000 but it’s still a considerable fall from its record high of US$68,500, which it hit a mere two months ago. The tightening of policy of the Fed will likely continue Bitcoin’s downward spiral as well as the value of the wider crypto market. There’s an argument that the selloffs that have occurred across the market and in Bitcoin have been executed by short term traders rather than long term investors. 

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