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Published: May 09, 2022 5 min read

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Collage of multiple bitcoins in sequence
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Bitcoin's price is plunging, which may have you wondering if now's the perfect time to buy the dip.

The cryptocurrency's price has plummeted to $32,000 per coin amid a wider stock market selloff. That's a more than 50% dive from bitcoin's high of above $68,000 per coin in November, according to data from CoinMarketCap.

Bitcoin is no stranger to price volatility, evidenced by the fact that just last week, it climbed to $40,000 before falling. Back in 2017, its price hit a high of $20,000 before crashing to below $5,000 the next year. In 2021, its price fell to below $30,000 before surging to November's record high, and seeing a 10% drop in a day is not uncommon for investors with their money in bitcoin and other cryptos, like ether or dogecoin.

Here's what you need to know about bitcoin's current plunge, and whether or not it's time for you to buy.