Cryptocurrency Giant BTC Drops Below $20,000

The cryptocurrency leader Bitcoin BTC, which started June at the level of 30 thousand dollars, fell below 20 thousand dollars. This drop, which is an opportunity for some and a danger for others, remains on the agenda of the cryptocurrency market. It was stated that Bitcoin fell below $20 thousand for the first time since December 2020. Ethereum, which has the largest market value after BTC, fell below $ 1,000. Bitcoin has lost 70 percent since its peak in November.

BTC, which was at the level of 20 thousand dollars during the week with the pricing for the tightening cycle of the American Federal Reserve (Fed), took its direction further down. The cryptocurrency leader fell below $20,000 for the first time since December 2020. Ethereum, which has the largest market capitalization after Bitcoin, recorded a level below $1,000. As crypto prices fell sharply, professional traders began targeting each other to increase their profits in the market that was not as easily profitable as before. In an interview with an anonymous user known as Omakase on the Sushi De-Fi Exchange, he pointed out that many shark investors are trying to learn about other investors, especially those who play with high leverage, by researching blockchains that record transactions. Noting that most people left the market with embarrassment or loss of money, analysts noted that the continuation of interest rate hikes increased the anxiety in the market.