News & Feeds June 19, 2022

BTC Drops Below $20K Over the Weekend, End of Bear Market?

The price of the largest cryptocurrency by market cap, Bitcoin (BTC), has dropped below $20K for the first time since 2020 as the selloff in the cryptocurrency market deepens.

At one point on Saturday, BTC’s price had dropped to as low as $17,593, which is around a 13% plunge in price, according to crypto market tracker CoinMarketCap. The price of BTC then pulled back up to $18,556. However, this is still a 9.22% drop in price. As a result, Bitcoin has now lost more than 70% of its value since peaking at $68,000 in 2021.