The crypto market had a flash crash. Bitcoin’s price hits lowest since December 2020.Cryptocurrency is in freefall as it drops FIVE percent in one hour
For months there had been warning signs that the cryptocurrency market would fall, but no one could have predicted the sheer scale of the collapse that would begin in May 2020
Ether was down a similar amount, while altcoins like Solana, Avalanche, and Polkadot were mixed. (1)
LATEST: Bitcoin falls below $20,000 for the first time since December 2020 ⬇️ https://t.co/q7cTL3ekXT pic.twitter.com/mdbygMAMoY
— Bloomberg (@business) June 18, 2022
Investors realized a total loss of $4.2 Billion, three times larger than the March 2020 Covid crash.
Rory Cellan-Jones, a former BBC technology Correspondent, highlighted in a post on Twitter that the cryptocurrency was in “freefall.”
Ruh roh…#Bitcoin slips below $20k – then goes into freefall pic.twitter.com/j1YReC1eZU
— Rory Cellan-Jones (@ruskin147) June 18, 2022
Cryptocurrency is in freefall as it drops FIVE percent in one hour. BTC falls below $20k, ETH $1K as crypto market crash continues along with global markets.
