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Bitcoin value plunges below $20,000 for the first time since 2020

Bitcoin fell below the psychologically important $20,000 ($29,000) threshold for the first time since late 2020, another sign that the sell-off in cryptocurrencies is deepening.

The price of the most popular cryptocurrency had fallen a whopping 12 percent to less than $18,100 by late afternoon on the East Coast, according to cryptocurrency news site CoinDesk.

It was November 2020 when bitcoin was last at that level, as it headed to an all-time high of nearly $69,000, according to CoinDesk.

Many in the industry thought it wouldn’t go below $20,000.

Bitcoin has now lost more than 70 percent of its value since it peaked.

#Bitcoin #plunges #time

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