Bitcoin falls under $20,000 as the cryptocurrency market continues
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| Bitcoin falls under $20,000 as the cryptocurrency market continues |
As the cryptocurrency market crashes, Bitcoin falls under $20,000 as the cryptocurrency market continues to suffer from job losses, rumours of impending insolvency at major crypto firms, and a sharp interest rate hike by the U.S.
At the Federal Reserve, Bitcoin fell below $20,000 for the first time since December 2020 on Saturday. At 7:30 a.m. Bitcoin was trading at $19,420 at 8:00 a.m. ET, down 8.1 percent in the previous 24 hours.
The market capitalization of the most valuable cryptocurrency in the world has decreased by 33% during the previous week, falling from $580 billion to $370 billion.
The value of the cryptocurrency has already dropped by more than 70% after reaching an all-time high of $68,990 in November of last year.
At $1,011, down 39 percent from a week ago, Ethereum has lost another 8.4 percent in the last 24 hours, joining BNB, which has lost 6.5 percent in the last 24 hours, Dogecoin, and Solana as other currencies affected by the selloff (-4.3 percent).
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