Bitcoin compactly fell below$20,000 on Wednesday as a number of factors from macroeconomic worries to issues with cryptocurrency companies continue to weigh on the request.
The world’s largest cryptocurrency was last trading up by lower than 1% at $$ 20,359.25, according to CoinMetrics data. before Wednesday, bitcoin fell as low as$19,841.
Other digital coins including ether were also lower.
Bitcoin has been trading within a tight range in the last two weeks unfit to make a major move much above$22,000
“ A narrative that could well play out for the rest of the time and hereafter is guiding bitcoin lower moment, one of brewing recession and mushrooming situations of affectation, ” judges at cryptocurrency exchange Bitfinex said in a note on Wednesday.
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