In this YouTube video, the hosts of “Fast Money” discuss the recent drop in Bitcoin’s value, which hit its lowest level since late February. The drop was attributed to a Japanese Bitcoin exchange that went bankrupt a decade ago beginning to pay back creditors by dumping $9 billion worth of coins onto the market. This caused Bitcoin to drop below $54,000 and Ether to drop about 5%. The overall crypto market lost $170 billion in value. The hosts then turn to the “Chart Master,” Carter, who analyzes Bitcoin’s performance over the years and suggests that buying the dip might be a good strategy, noting that there have been six 20%-plus selloffs since January of 2023. Carter also points out that Bitcoin has moved between $18,000 and almost $70 within a well-defined channel. Overall, the hosts discuss whether investors should take advantage of the weakness in the market or stay away from it.
