The price of Bitcoin has fallen below $ 20,000, for the first time since 2020.

The largest cryptocurrency in terms of market capitalization, according to CoinMarketCap is currently trading at 18 thousand 300 dollars, but it is experiencing a continuous decline.

The last time Bitcoin was at this level was in November 2020, when it had reached the peak value of almost 69 thousand dollars, the Telegraph reports.

Many of the industry's experts believed that the value of this digital currency would not fall below $ 20,000.

However, Bitcoin has already lost 73.44 percent of its value since it peaked.

Current Value of Bitcoin

Source: CoinMarketCap

Also, Ethereum has suffered a similar decline in recent weeks and suffered a similar loss in the last 24 hours.

This is the latest sign of instability in the cryptocurrency industry, while uncertainty has gripped financial markets.

Investors are selling the assets that pose the greatest risk, as central banks decided to raise interest rates as part of measures to combat rising inflation.

The total market value of cryptocurrency capital has fallen to $ 800 billion from $ 1.2 trillion.

/ Telegraphy /