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The price of bitcoin fell below $20,000 for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening.
Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than $19,000, according to CoinDesk.
The last time bitcoin was at this level was November 2020, when it was on its way up to its all-time high of nearly $69,000.
Bitcoin has now lost more than 70 per cent of its value since reaching that peak.
Ethereum, another widely followed cryptocurrency that’s been sliding in recent weeks, took a similar tumble on Saturday.
It’s the latest sign of turmoil in the cryptocurrency industry amid wider turbulence in financial markets. Investors are selling off riskier assets because central banks are raising interest rates to combat quickening inflation.
A spate of crypto meltdowns have erased tens of billions of dollars of investors’ assets and sparked urgent calls to regulate the freewheeling industry.
Cryptocurrency lending platform Celsius Network said this month it was pausing all withdrawals and transfers, with no sign of when it would give its 1.7 million customers access to their funds.
Stablecoin Terra imploded last month, erasing tens of billions of dollars in a matter of hours.
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The England star smashed nine sixes and eight fours in his 48-ball 108 as the Kings eclipsed the previous record set by South Africa who overhauled a target of 258 by the West Indies in 2023
Fatima was diagnosed with autoimmune hepatitis, a condition where the body's immune system attacks liver cells
The announcement follows a difficult spell for the royal family after both Charles and his daughter-in-law Catherine, revealed that they had cancer
It reiterated that pilgrims require a Haj visa and it can be obtained through recognised official channels
The 18-year-old was taken to hospital in a serious condition
The brothers, who say they are innocent, are accused of having formed an organised criminal network in early 2021 in Romania, as well as in the US and Britain
The left-handed batter scored 3369 runs in 136 one-day internationals and 2893 in 140 Twenty20 internationals — both Pakistan records