On Saturday, Bitcoin fell below $20,000 for the first time since late 2020.
Bitcoin has lost more than 70% of its value since reaching its peak.The cryptocurrency industry has seen a downtrend as investors are selling off riskier assets due to rising interest rates by central banks.
The total market value of cryptocurrencies has fallen from $3 trillion to below $1 trillion.Ethereum, the second largest cryptocurrency also fell below the $1,000 mark for the first time since January 2021.