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Another bad week for Bitcoin could be a precursor of more pain to come, according to strategists watching the selloff in cryptocurrencies.
Further weakness in its price may bring the $ 20,000 zone into view as a downside target, according to Oanda Corp., Evercore ISI and Tallbacken Capital Advisors LLC. Bitcoin has dropped about 7% this week and was trading at about $ 34,300 as of 8:12 am in London.
The largest cryptocurrency is “dangerously approaching the $ 30,000 level” amid growing regulatory fears in the US, and …
