Bitcoin drops under $20000 to lowest since December 2020 – Reuters.com

A neon brand of cryptocurrency Bitcoin is seen on the Crypstation cafe, in downtown Buenos Aires, Argentina Might 5, 2022. Image taken Might 5, 2022. REUTERS/Agustin Marcarian

Register now for FREE limitless entry to Reuters.com

June 18 (Reuters) – Bitcoin dropped under $20,000 on Saturday to its lowest stage in 18 months, extending its slide as buyers pull again from riskier belongings amid rising rates of interest.

The largest cryptocurrency was down 7.1% to $18,993 at 0906 GMT, having earlier touched $18,732, its lowest since December 2020.

It’s down about 59% this yr, whereas rival cryptocurrency Ethereum-backed ether is down 73%.

The digital forex sector has been pummelled this week after cryptocurrency lending firm Celsius froze withdrawals and transfers between accounts. read more

The sector has additionally suffered losses after firms reminiscent of Coinbase International Inc (COIN.O), Gemini and Blockfi mentioned they might lay off hundreds of staff as buyers ditch dangerous belongings.

Register now for FREE limitless entry to Reuters.com

Reporting by Jahnavi Nidumolu in Bengaluru; Modifying by Andrew Heavens

Our Requirements: The Thomson Reuters Trust Principles.

from Bitcoin – My Blog https://ift.tt/VZDmQhb
via IFTTT