Thursday, June 16, 2022

Bitcoin Price at Jun 16 2022: 20,973 USD



Crypto markets really fell this month. Some investors got "burned."

Certain souvenir cryptocurrency coins representing three major digital tokens, including stablecoin tether, got caught in the downdraft as another stablecoin, terra, ended trading after 'its catastrophic failure,' says one Canadian expert, which 'contributed to the larger crypto sell-off.'

Not all people realised what kind of a risk they were getting themselves into.

"Extreme market conditions" are happening.

Bitcoin Price: Jun 15 - 22,503 USD

Bitcoin Price: Jun 16 - 20,973 USD

Bitcoin's (BTC) price neared $20,000 during European hours Wednesday as it extended a 12-week slide.

Crypto lender Celsius paused all withdrawals earlier this week citing "extreme market conditions," leading to questions about the firm’s liquidity.

Prominent crypto fund Three Arrows faced at least $400 million in liquidations and scrambled to lower its collateral levels by selling key positions Wednesday morning, as reported.

Bitcoin fell to just above the $22,000 level in USA hours Tuesday. The decline gathered pace Wednesday morning, with the cryptocurrency sliding under $21,000, dropping for the eighth consecutive day and losing 30% over the past week.

They are too optimistic (those who think that Bitcoin will go to $1,000,000 by 2030).

The latest plunge in prices for Bitcoin is significant.

Bitcoin, the world's first and most-popular so-called cryptocurrency, reached a new all-time high over $68,000 USD on Nov. 10. Bitcoin's previous record high came in October, when it nearly hit $67,000 USD.

The most popular cryptocurrency has shed about 70% of its value since hitting an all-time high of roughly $69,000 in November. The entire crypto market is having similar losses. The overall market capitalization of crypto assets has dropped to less than $1 trillion from its November 2021 peak of $3 trillion.

Bitcoin really tumbles these days as crypto sell-off continues.

The world’s largest cryptocurrency has decreased about 70 percent since its record high of $69,000 USD in November.

Bitcoin fell on Wednesday to a new 18-month low, dragging smaller tokens down with it.

The so-called asset is nearing a price level not seen since 2020 as prominent crypto firms see possible insolvencies.

In other important news, The USA Consumer Price Index (CPI) report for May showed inflation in the world's biggest economy hit 8.6% on a year-on-year basis.

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