Bitcoin has lost nearly $200 billion in market cap in just three weeks, as the token slips below $30,000

  • Date: 27-Jan-2021
  • Source: Business Insider
  • Sector:Technology
  • Country:Middle East
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Bitcoin has lost nearly $200 billion in market cap in just three weeks, as the token slips below $30,000

Francesco Carta fotografo/ Getty Images

Bitcoin briefly fell below $30,000 on Wednesday for the first time since January 2.

The cryptocurrency has lost nearly $200 billion in market value over the past three weeks.

With the US Federal Reserve meeting set for Wednesday afternoon, bitcoin investors are watching carefully.

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Bitcoin bears were out on Wednesday, pushing the cryptocurrency below $30,000 for the first time since January 2.

Soon after the fall, bulls pushed the token back over $30,000, but the battle is on at the important resistance level.

Bitcoin has shed nearly $200 billion in market cap in just three weeks since it hit record highs of over $40,000 on January 8.

Still, long-term bitcoin investors are well in the green due to the monumental price appreciation seen in the asset over the past few years.





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Over the past two years, bitcoin has appreciated nearly 800%. Over four years, that figure moves to 3,550%, and if you look back ten years, early investors have made some 7,791,699%