Bitcoin drops below US$19K as crypto suffers further losses
Bitcoin Drops
Modified Date:- Published Date:-Categories: Bitcoins
Bitcoin drops below US$19K as crypto suffers further losses
- Bitcoin fell below US$19,000 for the first time since December 2020 as the crypto market wrapped up Q2 with further declines in Asia on Friday morning.
- According to CoinMarketCap, the world's largest cryptocurrency hit a low of $18,729 and was trading at $20,352 at press time.
- The crypto market and bitcoin, with a market cap of US$881 billion as of Friday morning, have registered a decline of nearly 57% in the second quarter.
- Cryptocurrency hedge fund Three Arrows Capital (3AC) has been reprimanded by Singapore's central bank for allegedly misleading the authorities.
- According to media reports on Wednesday, 3AC was reportedly ordered to be liquidated by a British Virgin Islands court.
- The European Systemic Risk Board on Thursday considered crypto assets a threat to the financial system and called for additional regulation to address the issue as urgent.
The falling Bitcoin price has had an immediate effect on other digital currencies, with many markets seeing further losses.