❌ Bitcoin has fallen to lowest level since December 2020 ❌ BTC's price sank below $24,000 on Monday ❌ Ether down to $1,225 after 35% plunge over past seven days ❌ Many altcoins are performing even worse ❌ Selloffs also seen across global markets
Friday delivered confirmation that the U.S. Consumer Price Index had hit 8.6% in May — the highest level since December 1981 — as the cost-of-living crisis shows no sign of slowing down.
And although history isn't always an accurate guide, it can give us an indication of what lies ahead. If BTC fell by 80% from the most recent all-time high of $68,700 that was set in November 2021, the world's biggest cryptocurrency would dwindle to lows of $13,740.
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