Bitcoin drops below $20,000 as crypto plunge continues
A spate of cryptocurrency meltdowns have erased tens of billions of dollars of investors’ assets recently.
aljazeera.com
The price of Bitcoin fell below $20,000 for the first time since late 2020 in a new sign the selloff in cryptocurrencies is deepening.
Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9 percent to less than $19,000, according to CoinDesk, a United States-based exchange platform.
The last time Bitcoin was at this level was November 2020 when it was on its way up to its all-time high of nearly $69,000.
Bitcoin has now lost more than 70 percent of its value since reaching that peak.
Ethereum, another widely followed cryptocurrency that is been sliding in recent weeks, took a similar tumble on Saturday.