Categories: Latest News

Bitcoin drops to the lowest since December 2020

Bitcoin drops to the lowest since December 2020!

As reported, Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months.

The development has extended its slide as investors pull back from riskier assets amid rising interest rates.

Bitcoin was down 7.1% to $18,993 at 0906 GMT,

The biggest cryptocurrency earlier touched $18,732, its lowest since December 2020.

This year, Bitcoin has gone down about 59%, while rival cryptocurrency Ethereum-backed ether is down 73%.

The digital currency sector is reported to have been pummelled this week after cryptocurrency lending company Celsius froze withdrawals and transfers between accounts.

Furthermore, the sector has also suffered losses after companies such as Coinbase Global, Gemini and Blockfi said they would lay off thousands of employees as investors ditch risky assets.

NewsDesk

Recent Posts

  • Latest News

Wearing face masks onboard flights no longer mandatory, CAA

Wearing face masks onboard domestic and international flights is no longer mandatory according to CAA's…

17 hours ago
  • Latest News

Farmers’ protest in Islamabad continues for the fifth day

Farmers' protest in Islamabad continues for the fifth day!Farmers, led by the Kisan Ittihad (Farmer's…

19 hours ago
  • Latest News

Cabinet formally approves legal action against Imran Khan and his aides over ‘cypher’ theft

The cabinet has formally approved to take legal action against Imran Khan and his aides…

19 hours ago
  • Drama Reviews

Kala Doriya Episode-3 Review: Asfand and Mahnoor are like Tom and Jerry

Hum TV's Rom-Com Kala Doriya is 3 episodes down and it has somehow failed to…

19 hours ago
  • Latest News

At least 174 dead after the violence at a football match in Indonesia

The early hours of Sunday became the darkest in the football history as at least…

20 hours ago
  • Drama Reviews

Fraud Episode-22 Review: Sharjeel’s fake identity satisfies Tooba’s family

ARY Digital drama serial Fraud followed a unique narrative and modern storyline but now unfortunately…

20 hours ago