Bitcoin Drops Below USD 20,000

 

The number one cryptoasset per market capitalization, bitcoin (BTC), took another dip below USD 20,000 today.

At 15:00 UTC on Sunday, BTC was trading at USD 19,888. Prior to this slight recovery, it had dipped to USD 19,858.

At the time of writing, it is down 1% in a day and 6% in a week. Overall, the price dropped 16% over the past month and 60% over the past year.

Compared to its all-time high of USD 69,044 recorded in November last year, BTC is down 71%, according to CoinGecko.

Bitcoin had visited the USD 19,000 level several times this year: first in June, then again in July. It had kept above that level since mid-July however, touching it once again today.

#bitcoin first got to $20k five years ago.#bitcoin is around $20k today.

Today's price does not erase all the development and adoption in the past five years. Price is just a reflection of mass psychology, not progress.#bitcoin will be here 5 years later, at a diff price.

— CZ 🔶 BNB (@cz_binance) August 28, 2022

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I dont really think $20k is a significant level for bitcoin

$9k is though

— moon (@MoonOverlord) August 27, 2022

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Learn more: 
– Crypto Derivatives Industry ‘Expects’ Severe Regulation, Bitcoin’s Price to Return to USD 65K – Report
– Bitcoin Price Rally Failed to Attract Active Users, Exchange Flows Reveals ‘Lackluster’ Demand – Glassnode

– Galaxy Digital’s Novogratz Doubts Bitcoin Will Pass USD 30,000 Barrier Soon
– Bitcoin Could Fall to USD 13.6K This Year, Panel Says After Adjusting Predictions Once Again

– Canadian Exchanges’ Cap on Annual Purchases Excludes Only Bitcoin, Ethereum, Litecoin and Bitcoin Cash
– 10 Traditional Companies that are Moving into Crypto Despite Market Downturn