RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Cryptocurrency

Bitcoin falls below $20k, causing an earthquake in the crypto market

Rate Captain by Rate Captain
June 20, 2022
in Cryptocurrency
Reading Time: 1 min read
A A
0
Why Cryptocurrency market is falling
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Bitcoin fell below $20,000 for the first time since December 2020, as evidence of escalating stress in the crypto industry mounts against the backdrop of monetary tightening.

In the early hours of Saturday, Bitcoin slid as much as 6% to $19.3K. The most valuable cryptocurrency in terms of market capitalization has been falling for the past 12 days. Ether momentarily broke under the $1K mark at the time of writing this report, its lowest level since January 2021, before recovering. Fears of a recession are suffocating enthusiasm

AlsoRead

Why Bitcoin investor are under water

Defi protocols declined by $124 billion in 6 weeks.

Elon Musk says he will keep supporting Dogecoin amid $258 billion lawsuit

Recall some days ago, the Federal Reserve hiked its key interest rate by three-quarters of a percentage point, the largest increase since 1994, and monetary policymakers indicated that they will continue to hike aggressively this year in the fight against inflation.

A higher-rate environment has harmed riskier assets like cryptocurrency, contributing to Bitcoin’s 70% drop from its all-time high in November.

After last month’s collapse of the Terra blockchain and the subsequent move by crypto lender, Celsius Network Ltd. to restrict withdrawals, a market that began falling late last year on predictions of a less flexible Fed is now showing symptoms of widespread turmoil. Three Arrows Capital, a crypto hedge fund, incurred big losses and said it was shutting down, adding to the gloom.

Previous Post

IMF says Forex premium in the black market limits the benefits of increased exports

Next Post

Despite 17.7% inflation rate, investors stake N391 billion in treasury bills at average interest rate of 6%

Related News

Why Bitcoin investor are  under water

Why Bitcoin investor are under water

by Rate Captain
June 23, 2022
0

By default, investors are drawn to anything they can flock to as a hedge against high inflation, primarily to preserve...

Defi protocols declined by $124 billion in 6 weeks.

Defi protocols declined by $124 billion in 6 weeks.

by Rate Captain
June 21, 2022
0

The total value locked (TVL) on ethereum, a metric that attempts to track the value of tokens deposited in a...

Elon Musk says he will keep supporting Dogecoin amid $258 billion lawsuit

Elon Musk says he will keep supporting Dogecoin amid $258 billion lawsuit

by Rate Captain
June 20, 2022
0

Elon Musk, the self-proclaimed ‘Dogefather’, has finally broken silence today as he tweets about his favourite meme coin, stating that...

Bitcoin plunges over 50% from its peak price of $68,990.90 in November 2021

Crypto market loses $2 trillion from its peak as Bitcoin struggles to stay above $20K

by Rate Captain
June 20, 2022
0

The Bitcoin market has seen significant price volatility, especially after the US central bank issued the largest interest rate hike...

Next Post
Fixed income traded on NGX appreciates by N687.1 billion in May 2022

Despite 17.7% inflation rate, investors stake N391 billion in treasury bills at average interest rate of 6%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Why Bitcoin investor are  under water

Why Bitcoin investor are under water

June 23, 2022
What caused Celsius Price Skyrockets by 400%.

What caused Celsius Price Skyrockets by 400%.

June 23, 2022

Popular Story

  • Interpol, Kenya Government Probe Three Nigerian Fintech Tycoons over N128 Billion from Nigeria

    Interpol, Kenya Government Probe Three Nigerian Fintech Tycoons over N128 Billion from Nigeria

    0 shares
    Share 0 Tweet 0
  • Market Capitalization Of Tier 1 Banks Depreciate By 2%

    0 shares
    Share 0 Tweet 0
  • Bitcoin Whale Moves Over $600,000,000 in BTC

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.