Bitcoin falls below $20,000, fear dominates

29.08.2022

The cryptocurrency market is depressed again. Prices are starting to fall again for the fifth session in a row. We are again under a trillion dollars in terms of market value. To be more precise, the market was worth $997 billion at the last check, down 1.3% in 24 hours, according to CoinGecko.

Thus, the market has lost more than $2.1 trillion compared to last November’s record of more than $3 trillion. Symbolic of the current bearish trend is bitcoin, which has lost 8% of its value in the past seven days. The king of cryptocurrencies has fallen below $20,000, a threshold below which it hasn’t been since July 14.

According to the latest data, bitcoin was worth $19,871.15. It is down 71.2% from the record of $69,044.77 set on Nov. 10 at the height of cryptomania.