Spain city Madrid, Spain 2020 bitcoin Spain city Madrid, Spain

Crypto crash: Bitcoin falls below $20,000 as selloff continues

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cryptocurrencies is deepening.Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than $19,000, according to CoinDesk.The last time bitcoin was at this level was November 2020, when it was on its way up to its all-time high of nearly $69,000.Bitcoin has now lost more than 70 percent of its value since reaching that peak.MADRID, SPAIN - 2022/06/17: A store offering numerous cryptocurrency electronic cash such as Bitcoin (BTC, BCH) and Ethereum (Ether, ETH) ATM machine in Spain. (Photo by Xavi Lopez/SOPA Images/LightRocket via Getty Images) Ethereum, another widely followed cryptocurrency that's been sliding in recent weeks, took a similar tumble on Saturday.RELATED: Bitcoin, other cryptocurrencies collapse, major crypto lender Celsius Network halts operationsIt's the latest sign of turmoil in the cryptocurrency industry amid wider turbulence in financial markets.

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