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Crypto industry fears contagion as bitcoin price slips under $20,000

Bitcoin has lost almost 60% of its value this year and 37% this month alone in the cryptocurrency sector's latest meltdown

Photo: Bloomberg
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Photo: Bloomberg

Reuters London/Hong Kong
The cryptocurrency industry was on edge on Monday as bitcoin struggled to stay above a key level, with investors fearing that problems at major crypto players could unleash a wider market shakeout.
 
Bitcoin, the world's biggest cryptocurrency, was trading just under the symbolic level of $20,000 in early London trading hours - roughly the peak of its charge to its previous record in 2017.
 
Bitcoin had dropped on Saturday to as low as $17,592.78, falling below $20,000 for the first time since December 2020. It has lost almost 60% of its value this year and 37% this month alone in

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First Published: Jun 20 2022 | 5:36 PM IST

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