Bitcoin fell below $20000 per piece, breaking its lowest level since July 14
CTOnews.com August 27 news, Bitcoin fell below $20000/piece, the day fell more than 3%, a new low since July 14.
Earlier, Fed Chairman Jerome Powell said that the US central bank is likely to continue raising interest rates. Following Powell's comments, the rest of the crypto market is also in a loss, with Ethereum being the second largest digital asset trading at around $1600, down 6% in the last 24 hours. According to CoinGecko, the entire crypto market cap is $1.05 trillion, down 3.8% in 24 hours.
CTOnews.com has learned that Bitcoin has taken a hit this year after experiencing a huge market sell-off. The asset is currently 70% below its all-time high of $69,044.77 in November 2021.
