Cryptocurrency: Bitcoin sinks below the 20,000 mark, loses about 50% value in 1 year

New Delhi: The world’s most popular cryptocurrency Bitcoin went down below the mark of 20,000 on Saturday. This is reported to be the lowest since November 2020.

Currently, it is trading at $19,394.93 in the market. In the past 24 hours, the cryptocurrency lost its value by 7.9%. In the last one year, it lost its value by 49.2%.

The continuous fall of Bitcoin shows the appetite of cryptocurrency investors is falling. The highest price of Bitcoin was recorded on November 10 in 2021 at $69,044.

The second-largest cryptocurrency Ethereum lost its value by 8.5% to trade at $1009.77. It is said to be the lowest since January 2021.

The ETH lost its value in the market by 57.7% in the last 1 year. The market dominance of ETH now stands at 13.807%. The highest was ever recorded for ETH is $4,878.26.

Other crypto coins such as Binance, XRP, SOL, Doge, SHIB, and AVAX by 6.5%, 5.4%, 4.3%, 4.9%, 3.7%, 6.65 in the past 24 hours, respectively.

Gl0bal cryptocurrency market down 

According to the data of CoinGecko, the cryptocurrency data aggregator, the global cryptocurrency market cap today is $887 billion after going down by 6.0% in the last 24 hours.

The dominance of Bitcoin stands at 41.7% and Ethereum’s dominance is at 13.8%.

On the market fall, Alkehs Shah, the head of the crypto and digital assets strategy at Bank of America Corp, said, ”Investors are continuing to position defensively following last year’s liquidity-driven digital asset bull market.”