Bitcoin falls below $20,000 for first time since November 2020

  • 18-06-2022, 16:55
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    The price of Bitcoin fell below $20,000 for the first time since November 2020 on Saturday, amid a broader market meltdown driven by rising interest rates, inflation and economic uncertainty spurred by the war in Ukraine.

    The plunge it sank below $19,000 at one point Saturday, took place over several months for Bitcoin, the most popular cryptocurrency. 

    Its fall was accelerated in recent weeks by the collapse of two major cryptocurrency projects, Terra-Luna and Celsius, while sowing doubts about the stability of the overall cryptocurrency market. 

    Bitcoin has erased some $900 billion of value since its peak in November.