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Sunday, December 4, 2022

Bitcoin Hoping To Bounce Back

Bitcoin has been the mainstay of the crypto world. The company has been one of the major driving forces for the worldwide popularity of cryptocurrencies. The company started in a promising manner and continued to gain momentum as it powered through the markets. The increasing popularity of the company made the investors sit up and take notice. BTC attracted many big investors to put their funds in the crypto market.

The company also recorded some of the most staggering sales figures of all time in the past few years. Unfortunately, the merry going of the company has suddenly come to a screeching halt. The entire crypto market has been facing one of the darkest times at the moment. 

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The entirety of the market has plunged into darkness. Most of the companies have faced significant losses during this period. Prominent companies like Coinbase have declared themselves bankrupt while Coinflex has recently announced about cutting down on their employees due to the recent loss.

The biggest names in the market, Ethereum and Bitcoin have also witnessed their shares go down the drain. However, Bitcoin is constantly looking to get back up and running on the path to success. They are currently trying to achieve a $22k profit in the upcoming days. Let us learn more about the story in detail below. 

Bitcoin Eyes Comeback As PMI Data Records New Low

Bitcoin is currently hopeful of a turnaround from its dismal performance. The company saw its prices go down in ways no one would have imagined. Thus, the officials are working hard to achieve a profit of $22k in recent times. 

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However, even though Bitcoin is trying to be optimistic, the PMI data narrates a sorry tale. The recent data published shows that the Purchasing Managers Index has reached rock bottom. The numbers recorded are the lowest since the month of May 2020. 

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