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Experts Warn Bitcoin Price Could Crash to $12k

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Some experts have warned that Bitcoin could experience a new low, sending its price down to $12,000. A series of macroeconomic events, such as the rise in the federal reserve rate and inflation data, have played a significant role in predicting the price of Bitcoin.

The prediction has come at a time when the crypto market is in the red and the top cryptocurrency has lost about 60% of its value since its all-time high.

At the time of writing, Bitcoin is trading at $18,992, a 6% decline from the last week. The Federal Reserve has begun its two-day meeting on Sept.20, and it is expected that on Sept.

21, it will raise interest rates again by three-quarter points. If this happens, it will be the third consecutive hike. A recent report by Goldman Sachs economists headed by Jan Hatzius also predicts that Federal Reserve benchmark rate hikes might accelerate faster than expected.

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