Bitcoin Falls Below $18,000 For The First Time Since November 2020
Bitcoin (BTC) has fallen below $18,000 for the first time since November 2020, when Bitcoin was starting its bull run that pushed its price towards $69,000 a year later. This recent sell-off started in May with the implosion of the Terra (LUNA) ecosystem and continued with the lack of stability of the Celsius platform.
Bitcoin is currently searching for a bottom that would help the virtual currency get stabilized above its current price level. There have been many reasons for Bitcoin to reach its current situation. The bear market started when Bitcoin hit $69,000 in November 2021, and the market turned downwards. Despite a relative stabilization in the first months of 2022, Terra’s implosion created a very hard and difficult situation for virtual currencies.
Source
https://t.me/CryptoMarketUpdates
