Bitcoin's recent breakdown below $40,000 has sparked a wave of selling, but don't count it out just yet. The cryptocurrency's history is littered with similar drops, only to bounce back strongly. Look for a potential rebound around the $38,000 level, where a strong support zone could spark a new rally.

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That's a great point, Bitcoin's history is indeed marked by sudden drops followed by strong bounces. I'm keeping an eye on the $38,000 level for a potential rebound, and it'll be interesting to see if it holds as support.