Cryptocurrency updates; Bitcoin Prices drop below $20,000

Cryptocurrency updates; Bitcoin Prices drop below $20,000

Cryptocurrencies have become increasingly popular in recent years, with Bitcoin becoming the most well-known and widely-traded cryptocurrency. Cryptocurrencies are often lauded for their decentralized nature, which makes them resistant to government interference or manipulation. Cryptocurrencies are also transparent, meaning that all transactions are publicly visible on a blockchain.

On Saturday, Bitcoin fell below $20,000, continuing a decline that has seen it decline by roughly 60% from its year-high.

The largest and most well-known cryptocurrency in the world, Bitcoin, was last down 1.5% on Saturday at $19,946, down $298 from its previous closing.

It has decreased by 58.7% since the year’s peak of $48,234 on March 28.

The Ethereum blockchain network’s native currency, ether, dropped 2.76% to $1,467.2, losing $41.60 from its previous closing.

The decline in Bitcoin comes after a difficult day for the currency on Friday, when all three benchmarks on Wall Street ended the day more than 3% lower.

Risk asset prices declined after Federal Reserve Chairman Jerome Powell warned against anticipating a quick stop to the Fed’s rate tightening.

Some investors have predicted further losses for stocks as a result of the Fed’s interest rate decisions.

Midway through July, Bitcoin last fell below $20,000.

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