Bitcoin Prices Fell Below $20,000 (Aprrox Rs. 15 lakhs) for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening.
Bitcoin the Most Popular amongst Cryptocurrency, Fell Below the psychologically important threshold, dropping as much as 9 percent to less than $19,000 (Approx Rs. 14 lakhs), according to CoinDesk.
As Comparing with the Last Time, Bitcoin was nearly $69,000 (Approx Rs. 53 lakhs).
After this Incident, Bitcoin Lost it’s 70% Value In the Market.
Ethereum, Another Most Popular Cryptocurrency Also suffered The Same Situation in Terms Of Crypto.
Talking About the latest sign of turmoil in the cryptocurrency industry amid wider turbulence in financial markets. Investors are selling off riskier assets because central banks are raising interest rates to combat quickening inflation.
A spate of crypto meltdowns have erased tens of billions of dollars of investors’ assets and sparked urgent calls to regulate the freewheeling industry.
A Cryptocurrency Lending Platform Called Celsius Network Said That this month it was pausing all withdrawals and transfers, with no sign of when it would give its 1.7 million customers access to their funds.
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