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Bitcoin drops below $20,000 for the first time since late 2020

Bitcoin drops below $20,000 for the first time since late 2020

The price of bitcoin fell below $20,000 for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening.

LONDON — The price of bitcoin fell below $20,000 for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening.

Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than $19,000, according to CoinDesk.

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’s been sliding in recent weeks, took a similar tumble on Saturday.

https://www.nbcnews.com/tech/crypto/bitcoin-drops-20000-first-time-late-2020-rcna34244


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