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Bitcoin Slides Below $35,000 as Crypto Mania Loses Momentum

  • More professional investors view Bitcoin as a crowded trade
  • Market has been gripped by volatility after surpassing $40,000
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Banks Are Wrong to Embrace Bitcoin, Economist Nielsen Says
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The Bitcoin fever is starting to break as worries about a market bubble discourages investors from buying in.

Prices for the largest cryptocurrency dipped as much as 8.4% on Wednesday and traded below $34,000. Ever since the market shot through all-time highs in early January, Bitcoin has been beset by volatility and skepticism that the run-up has been excessive.