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Bitcoin dropped under $20,000 on Saturday to its lowest degree in 18 months, extending its slide as buyers pull again from riskier property amid rising rates of interest.
Additionally learn | After crypto lender Celsius blocks all redemptions, Bitcoin tumbles
The largest cryptocurrency was down 7.1 per cent to $18,993 at 0906 GMT, having earlier touched $18,732, its lowest since December 2020.
It’s down about 59 per cent this yr, whereas rival cryptocurrency Ethereum-backed ether is down 73 per cent.
Watch | Largest cryptocurrency Bitcoin is crashing – why?
The digital foreign money sector has been pummelled this week after cryptocurrency lending firm Celsius froze withdrawals and transfers between accounts.
Additionally learn | Dogecoin investor sues Elon Musk for $258bn, accusing him of operating pyramid scheme
The sector has additionally suffered losses after firms corresponding to Coinbase International Inc, Gemini and Blockfi mentioned they might lay off 1000’s of workers as buyers ditch dangerous property.
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