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The Slump Continues as Bitcoin Falls Below $20K with no Bottom in Sight

According to Coinbase data, Bitcoin dropped as low as $19052 on Saturday. Ethereum fell below $1,000 and reached a low of $988 at press time....
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According to Coinbase data, Bitcoin dropped as low as $19052 on Saturday. Ethereum fell below $1,000 and reached a low of $988 at press time. Bitcoin fell below its 2017-2018 bull market high.

According to TradingView, bitcoin traded at $19,217 as of press time on Coinbase. Bitcoin dropped to $19,052 after which it recovered somewhat.

Ether, which is the native cryptocurrency of Ethereum and the second-largest by market capitalization, saw its price drop to $988 on Saturday. ETH currently trades at $997.

These market developments occur amid numerous crises in crypto market. Celsius, a major crypto lender stopped withdrawals and transfers on Sunday and has since been silent about any future plans.

After seeing its positions liquidated in multiple markets, Three Arrows Capital, a crypto hedge fund, is now facing insolvency.

Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".
Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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