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Bitcoin price drops below $20,000 for the first time since late 2020 as crypto selloff quickens

USA Today | Jun 18th, 2022
Category: Financial News

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.

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