Bitcoin slumps below key $20,000 threshold

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That took it below the peak level of the previous bull run in crypto markets in 2017 and erased years of gains for long-term holders.

The largest cryptocurrency, which acts as a benchmark for the broader crypto market, plunged to under $19,000 on Saturday morning, a fall of around 9 per cent.

Global equities posted their worst week since the darkest days of the pandemic in March 2020 as traders fretted that the aggressive action could snarl global growth or even trigger a recession.

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Author / Journalist: Joshua Oliver

Category: MarketsFinanceInvesting

Topics: Lenders Market Bitcoin Pressure Banks Financial Traders Price Crypto Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-18, 08:53:05

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 4 minutes read

Article Length: 622 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 519

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

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Year Established: 1888

Headquarters: United States

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Coverage Areas: United States

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Publication Timezone: GMT -5:00

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