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\Crypto prices can be dramatically affected by major events, such as exchanges or coins crashing. They can also sink with higher interest rates. In June , it plummeted below $18, It was still below $20, by November , just a year after its record high of $69, While it has since shown signs of recovery, it's still a long way off from its record highs. The cryptocurrency market is starting to bounce back a year after the collapse of crypto exchange FTX and other big players in crushed.