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Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates.
The biggest cryptocurrency was down 7.1 per cent to $18,993 at 0906 GMT, having earlier touched $18,732, its lowest since December 2020.
It is down about 59pc this year, while rival cryptocurrency Ethereum-backed ether is down 73pc.
The digital currency sector has been pummelled this week after cryptocurrency lending company Celsius froze withdrawals and transfers between accounts.
The sector has also suffered losses after companies such as Coinbase Global Inc, Gemini and Blockfi said they would lay off thousands of employees as investors ditch risky assets.
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Comments (10) Closed
Jun 18, 2022 03:59pm
Money created out of thin air gone in thin air.
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Jun 18, 2022 04:12pm
As you sow, so shall you reap.
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Jun 18, 2022 04:14pm
Good going. It should come down to 1 dollar like it was before.
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Jun 18, 2022 05:38pm
Paper currency, and digital currency both can be manipulated.
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Jun 18, 2022 05:43pm
Crypro is a big scam. Better avoid it.
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Jun 18, 2022 08:10pm
If the bitcoin drops below 18,000 then look below all the way to major support 10,000.
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Jun 18, 2022 10:17pm
The faster they rise, the harder they fall.
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Jun 19, 2022 04:36am
@Random Indian, Typical Indian mindset
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Jun 19, 2022 05:55am
I guess you don’t know what the cost is to mine a bitcoin,
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Jun 19, 2022 03:23pm
Bitcoin is a bad currency.
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