| 15 April 2024, Monday |

Bitcoin drops below $20,000 to lowest since December 2020

Bitcoin fell below $20,000 on Saturday, reaching its lowest level in 18 months, as investors shied away from riskier assets in the face of rising interest rates.

At 0906 GMT, the largest cryptocurrency was down 7.1 percent to $18,993, after hitting a low of $18,732 for the first time since December 2020.

It is down about 59% this year, while rival cryptocurrency Ethereum-backed ether is down 73%.

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

  • Reuters