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Bitcoin soars to record $34,000, but dips $5,000 in 24 hours

January 4, 2021

At 10:00AM today, Bitcoin still sat above $30,000, having seen its value drop $4,000 in less than 24 hours.

Its value continued to decline to around $29,000 this morning, before bouncing back above $30,000 by 11:00AM.

The sharp dip from such a peak comes just a day after Bitcoin investors argued the peak was in line with the cryptocurrency’s pattern of “consistent increase[s]”.

Marcus Swanepoel, CEO of London crypto platform Luno, tells the Financial Times the currency was enjoying “a consistent increase, rather than one sharp spike”.

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