Bitcoin Drops Below $20,000

The digimunt will also be hit hard during the weekend.

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Bitcoin fell to a low of $18,740 on Saturday. According to Bloomberg data, bitcoin has been falling for 12 days in a row. Bitcoin is also traded on Saturdays and Sundays. Unlike stock investors, crypto traders are not allowed a weekend rest.

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It is the first time in a year and a half that bitcoin is worth less than $20,000. Since the beginning of this year, the value of the main digital currency has fallen sharply, but last week in particular saw a crash. In about a week, bitcoin has lost a third of its market value. On January 1 of this year, bitcoin was still worth more than $47,000. Last November, the digital currency peaked at more than $68,000.

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Other digital coins are also hit. Ether, the second most important currency, fell through the $1,000 mark for the first time since January 2021 and is now at $975.24. Ether, like bitcoin, is 70 percent below its November peak.

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Read how the decline in the value of crypto coins can affect the financial system here.

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