Bitcoin drops below $20,000 as cryptos feel the heat over interest rate hawkishness

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Euronews (English)

Bitcoin had a rude awakening on Monday after its price briefly dropped below $20,000 (just under €20,000) following tough comments on interest rate hikes from the US Federal Reserve chief. Bitcoin, the largest cryptocurrency by market capitalisation, was trading down 2 per cent at around $19,526, according to Coin Metrics data. It is a level unseen since mid-July and Bitcoin prices are now down more than 50 per cent from a year ago. The second-largest cryptocurrency Ether fell around 4 per cent to $1,423, its lowest level in a month and other altcoins also dipped. Bitcoin and other cryptocurre…

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