Bitcoin bulls predict new record highs following worst rout since FTX collapse [Yahoo! Finance Canada]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance Canada
for the world's largest cryptocurrency after shaking off a rout that sent the digital asset tumbling as much as 20% between Sunday and Monday. After crashing over the weekend to below $50,000 — a low not seen since February — bitcoin's price has regained roughly $6,000, putting it down 14% for the last seven days. As the dust settles on the worst week for bitcoin since the collapse of the FTX cryptocurrency exchange in 2022 , bulls said they still expect another leg in a rally that would put the cryptocurrency above $100,000 by the end of 2024. It set an all-time high of $74,000 last March. The case for it to make new all time highs in 2024 "is still very much in play," Martin Leinweber, director of digital asset research at MarketVector, told Yahoo Finance. ADVERTISEMENT "If we can regain the old highs around $72,000, I think it's not unrealistic to see Bitcoin between $80K and $100K." Another bull — Onramp Bitcoin head of macro strategy Mark Connors — said Tuesday that a
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