Bitcoin price falls below $20000 for the first time sice 2020

Bitcoin price fell below $20,000 on Saturday for the first time since the end of 2020, as selling in the cryptocurrency increased. Bitcoin, the most popular cryptocurrency, fell 9 percent to less than $19,000 according to CoinDesk. The last time bitcoin was at this level was in November 2020.

70% fall in bitcoin

This was followed by bitcoin reaching an all-time high of $69,000. Bitcoin has lost over 70% of its value since reaching this level. Ethereum, the other cryptocurrency, has also fallen sharply in recent weeks. It continued to decline on Saturday as well. Almost all crypto tokens were on the red mark. Cardano, Solana, Dogecoin and Polkadot were down between 7% and 10% on Saturday.