Bitcoin drop resembles 2016 bull run start

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Crypto traders appear to agree that today’s market rout is far from over.

Bitcoin tumbled below $50,000 during the early Asian trading hours on Aug. 5 as risk-off sentiment gripped global markets. Bitcoin is down nearly 31% over the last three days in a “once in a 7-10 yr event” that has left analysts with mixed opinions on whether BTC will recover in the short term.



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