"After rocketing to a high above $19,500 last Sunday, bitcoin's price has been steadily dropping this week. Those losses accelerated overnight, with the cryptocurrency falling below $13,000.To be fair, all of these currencies—like bitcoin have seen massive gains in recent weeks. They're all well above their value at the start of December, to say nothing of values earlier in the year."
"One factor weighing on bitcoin in particular is the network's skyrocketing transaction fees. Two weeks ago, the daily average fee to send a bitcoin transaction hit an all-time high of $26. This week, the network left that record in the dust, with the average fee on Thursday reaching more than $50.Of course, bubble warnings have been common throughout the cryptocurrency boom of the last year, and bitcoin has had several double-digit crashes before. In each of these past cases, bitcoin recovered its value and zoomed to new heights. The big question is whether this time is different."
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