Bitcoin has fallen below $ 20,000 – Finance

On Saturday, bitcoin continued to fall due to lack of appetite for risk: it fell to $ 18,740, which is 9% less than the previous day. This is the lowest level since December 13, 2020.

Since its record high on November 10, 2021 at $ 68,991, the digital currency has lost more than 72% of its value. At about 3:50 p.m. GMT, it was $ 18,941, down 8 percent from Friday. A sign that this market is undergoing liquidation in a full crisis, all major cryptocurrencies fell sharply on Saturday. Ether, the second most frequently used digital currency, lost almost 10%. Stock markets fell this week, worried that central banks, led by the Fed (Federal Reserve), would not be too aggressive in their quest to curb inflation, risking weakening the global economy.

Cryptocurrencies that pay the highest price

But cryptocurrencies pay the highest price. On Monday, the cryptocurrency market fell below the symbolic limit of $ 1,000 billion. In November last year, it rose to 3,000 billion. The fall of bitcoin has accelerated the suspension of withdrawals by two cryptocurrency investment platforms. On Sunday night, Celsius announced a break in the seizure and transfers. The company, which managed $ 12 billion in assets in mid-May, said its website offered users to host their “historic” cryptocurrencies, such as bitcoin and ether, to invest in new virtual currencies.

Short-term stop for withdrawals

Babel Finance told customers on Friday that it was suspending all withdrawals due to “unusual pressure on liquidity.” The short-term freeze on bitcoin withdrawals from the world’s largest stock exchange, Binance, also contributed to a lack of appetite for cryptocurrencies this week. The cryptocurrency platform Coinbase announced on Tuesday that it would cut 18% of its workforce, or about 1,100 jobs. “We seem to be entering a recession after more than 10 years of economic recovery,” said Brian Armstrong, co-founder and CEO, among the excuses for the mass layoffs. “The recession could lead to another” cryptozyme “and will last for a long time,” he added. In 2021, the nascent sector attracted more and more traditional financial players, whose risk appetite was fueled by the ultimate policies of central banks around the world.

Since its record high on November 10, 2021 at $ 68,991, the digital currency has lost more than 72% of its value. At about 3:50 p.m. GMT, it was $ 18,941, down 8 percent from Friday. A sign that this market is undergoing liquidation in a full crisis, all major cryptocurrencies fell sharply on Saturday. Ether, the second most frequently used digital currency, lost almost 10%. Stock markets fell this week, worried that central banks, the Fed (Federal Reserve) will not be too aggressive in their efforts to curb inflation, risking weakening the global economy. But these are the cryptocurrencies that pay the highest price. On Monday, the cryptocurrency market fell below the symbolic limit of $ 1,000 billion. In November last year, it rose to 3,000 billion. The fall of bitcoin has accelerated the suspension of withdrawals by two cryptocurrency investment platforms. On Sunday night, Celsius announced a break in the seizure and transfers. The company, which managed $ 12 billion in assets in mid-May, said its website offered users to host their “historic” cryptocurrencies, such as bitcoin and ether, to invest in new virtual currencies. Babel Finance informed customers. on Friday, he suspended all withdrawals due to “unusual pressure on liquidity.” The short-term freeze on bitcoin withdrawals from the world’s largest stock exchange, Binance, also contributed to a lack of appetite for cryptocurrencies this week. The cryptocurrency platform Coinbase announced on Tuesday that it would cut 18% of its workforce, or about 1,100 jobs. “We seem to be entering a recession after more than 10 years of economic recovery,” said Brian Armstrong, co-founder and CEO, among the excuses for the mass layoffs. “The recession could lead to another” cryptozyme “and will last for a long time,” he added. In 2021, the nascent sector attracted more and more traditional financial players, whose risk appetite was fueled by the ultimate policies of central banks around the world.

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