New York: Trouble continues for cryptocurrencies that have taken over the world in celebration. Digital currencies, which have been depreciating sharply for days, are still down on Saturday. For the first time in a year and a half, Bitcoin, the largest cryptocurrency in the world, fell below $20,000 ($15,59,030) for the first time. Bitcoin fell 7.1 percent to $29,993. Bitcoin has dropped by more than 60% this year alone. , which came next, fell 73 percent. Ethereum is trading below $1,000. Bitcoin fell sharply to $70,000 (54,56,605). Ethereum was $4866 seven months ago.
The announcement by the US Federal Reserve to raise interest rates in the wake of high inflation and the financial crisis has caused a global uproar. Celsius, a cryptocurrency company, has stopped trading and other companies, such as Gemini and Blackfie, have announced they will lay off thousands of employees. With this, digital currencies plunged into a massive collapse.
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