Bitcoin prices just crashed below 20k USD which was an all time low since 2017. This happens after speculations and ongoing challenges have spread across the world leading to market crash.
The cryptocurrency has plunged to a low of $19,066 on Bitstamp Exchange as of this writing, which is below the legendary previous all-time low of $19.7K set in 2017.
The changes can be seen after a broader market correction, with all cryptocurrencies trading in the red. The market capitalization has dropped below $1 trillion, and is currently at $885 million as of this writing. This has prompted the liquidation of futures contracts. Thus, the total value of which has surpassed $125 million in the last 24 hours.
The largest cryptocurrency held till date Ether also dripped down below the 1000 mark for the first time since January 2021. Owing to the sudden drop an investment agency attributed the problem to liquidation of funds.