Bitcoin Price Crash: The cryptocurrency market also continues to decline. Bitcoin has seen a decline of 6.53 percent on Saturday, June 18, 2022. Bitcoin has fallen below $20,000. Bitcoin has come down to its lowest level since December 2020 at $19,047 due to a major fall. From its previous closing, $ 1334 i.e. 6.53 percent has fallen (Bitcoin) to its 18-month low. In November 2021, bitcoin touched the level of $68,000. 72 percent of the price has fallen from these levels. So only in 2022, bitcoin has fallen by 59 percent.
why bitcoin fell
In fact, there has been a sharp jump in the inflation rate data in America. Due to which the US Federal Reserve is expected to make interest rates expensive. This is the reason why there has been a big decline in cryptocurrency from stock markets around the world. Many experts are predicting a fall for the cryptocurrency to the level of $14,000. If this happens, the cryptocurrency would have fallen 80 percent from its level in November 2021. According to experts, the price of bitcoin is being predicted to go above $ 40,000 only after 2023.
Ethereum also down
Ethereum, the second largest currency after bitcoin, has also seen a big decline. Ethereum has slipped below $1,000. And is trading at $ 999.86 which is the lowest level since January 2021. Ethereum has declined 73 percent in 2022.