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"This is not the funeral for bitcoin whatsoever," Brian Kelly, founder and CEO of BKCM LLC, an investment firm focused on digital currencies, said on "Fast Money" Friday.

"Let's put this in perspective," he said. "Do you know where we were a year ago? $2,500."

Kelly said a combination of things — including tax selloffs, multiple exchange hacks and about $10 billion funding initial coin offerings (ICOs) — have caused the coin, the largest by market cap, to fall in price.

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