Crypto

Bitcoin Drops and Reaches Below 2017’s All-time High

Bitcoin's price has reached the lowest price below $20K to hit the previous all-time high of 2017

Bitcoin, the largest cryptocurrency in the market has broken down to hit below the 2017’s previous all-time high at $20K. This crash happens due to the entire market tumbling in the middle of the spread rumors and the ongoing challenges.

This current price of Bitcoin (BTC) is the considered the first since December 2020, as the price of the asset has traded below $20,000 on Binance today.

However, this situation is due to the crashes of a broader market pullback as most if not all cryptocurrencies are trading in blood red since a week.

As for the market capitalization, it tumbles much more below the $1 trillion, hitting the $885 million by the time of writing this article.

Not this but also, this did propel futures contracts liquidations which their collective worth over the previous 24 hours has exceeded the price of $125 million.

The $20,000 level held strongly in the previous few days, and immediately after breaking it, many supplies orders were directly sent into the market decreasing the price.

By the time of writing this article, Bitcoin dropped to as low as $19,366.68 on CoinMarketCap. Which is below the previous all-time high in 2017 at $19.7K.

Related Articles

Back to top button