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Bitcoin drops below $20,000 to lowest since December 2020
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Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates.
The biggest cryptocurrency was down 7.1% to $18,993 at 0906 GMT, having earlier touched $18,732, its lowest since December 2020.
It is down about 59% this year, while rival cryptocurrency Ethereum-backed ether is down 73%.
The digital currency sector has been pummelled this week after cryptocurrency lending company Celsius froze withdrawals and transfers between accounts.
Read more on moneycontrol.comAbout this in other media
Bitcoin holds near $20,000 as investors fear "domino effect" economictimes.indiatimes.com /1 year ago
Crypto industry fears contagion as bitcoin slips under $20,000 moneycontrol.com /1 year ago
Crypto meltdown: Bitcoin hovers around $20,000 as major players struggle euronews.com /1 year ago
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