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Bitcoin’s Seesaw Nature Is Showcased Yet Again in Choppy Trading

  • Largest cryptocurrency is on pace for worst month since May
  • December drop leads to hundreds of billions in crypto losses
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WATCH: CoinList CEO Graham Jenkin discusses the outlook for cryptocurrencies and blockchain technology in 2022.Source: Bloomberg
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Bitcoin swung between gains and losses Wednesday amid a monthly slump that puts it on pace for its worst decline since May. 

The volatile token was up 0.6% to trade around $47,800 at 10:14 a.m. Wednesday in New York, following a near 7% drop the prior session. It has retreated some 16% this month, while the wider crypto universe has shed more than $300 billion of market value over the period, according to tracker CoinGecko.