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Bitcoin tumbles below $20,000

The currency has fallen below $20,000

The price of Bitcoin has fallen below $20,000 after a brutal sell-off in cryptocurrency.

According to the CoinDesk on Saturday, the Bitcoin fell as low as $19.217.81 and stayed below $20,000. After achieving the highest value in November last year, the cryptocurrency has lost 72 percent of its value.

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According to the Crypto Investors, the aggressive interest rates from the US Federal reserve coupled with a worsening liquidity crunch have played role in the fall.

The Coin Metrics Data has said that the price of Bitcoin has fallen 9 percent in the last 24 hours.

 

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