Bitcoin fell below the  20k $ mark on Saturday, its lowest level in 18 months, to continue falling after investors expressed concern about growing problems in the cryptocurrency sector and as the general retreat from riskier assets continues.

Bitcoin, the largest cryptocurrency, was last trading down 7.3% at  19,085 $ after earlier touching  18,732 $, its lowest level since December 2020.

Bitcoin has fallen by about 59% this year, while ether, the second largest cryptocurrency, has fallen by 73%. And in 2021, bitcoin reached a peak of more than 68 thousand dollars.

Edward Moya, Onda's chief market analyst for the Americas, said on Saturday: "breaking the  20k barrier shows the collapse of confidence in the cryptocurrency sector, and this is what we have been witnessing lately. There are too many cryptocurrencies and exchanges that English: Edward Moya, Onda's chief market analyst for the Americas, said on Saturday: "breaking the حاجز 20k barrier shows the collapse of confidence in the cryptocurrency sector, and this is what we have been witnessing lately. There are too many cryptocurrencies and exchanges that are under enormous financial pressure due to increased borrowing costs,"he said. under enormous financial pressure due to increased borrowing costs,"he said.