{"id":462676,"date":"2022-06-14T16:20:19","date_gmt":"2022-06-14T13:20:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-crash-continues-as-bitcoin-briefly-dips-below-21k\/"},"modified":"2022-06-14T16:20:19","modified_gmt":"2022-06-14T13:20:19","slug":"crypto-crash-continues-as-bitcoin-briefly-dips-below-21k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-crash-continues-as-bitcoin-briefly-dips-below-21k\/","title":{"rendered":"#Crypto crash continues as bitcoin briefly dips below $21K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a277b6b1a148\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a277b6b1a148\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-crash-continues-as-bitcoin-briefly-dips-below-21k\/#%E2%80%9CCrypto_crash_continues_as_bitcoin_briefly_dips_below_21K%E2%80%9D\" >&#8220;Crypto crash continues as bitcoin briefly dips below $21K&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCrypto_crash_continues_as_bitcoin_briefly_dips_below_21K%E2%80%9D\"><\/span>&#8220;Crypto crash continues as bitcoin briefly dips below $21K&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>The price of bitcoin briefly plummeted below the $21,000 threshold for the first time since December 2020 on Monday night as investors braced for a looming recession and reacted to difficulties at a major exchange.<\/p>\n<p>Bitcoin was staging a slight rally and was trading near $22,000 as of Tuesday morning, but the leading cryptocurrency was still down <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 9% over the last 24 hours, according to Coinbase data. The price is down nearly 70% from its all-time high of $69,000 achieved last November.<\/p>\n<p>The selloff caused the overall market capitalization of the cryptocurrency market to sink below $1 trillion, according to CoinGecko data. The market was valued at more than $3 trillion in November.<\/p>\n<p>Ethereum, the second largest cryptocurrency, was down more than 5% to $1,182.<\/p>\n<p>This week\u2019s volatility on the digital asset market occurred after Binance, the world\u2019s largest cryptocurrency exchange, temporarily halted bitcoin withdrawals. Binance CEO Changpeng Zhao said the move was a \u201ctemporary pause\u201d on \u201ca stuck transaction causing a backlog.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"711\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-cryptocurrency-price-usd.jpg?w=1024\" alt=\"Bitcoin price chart\" class=\"wp-image-22649350\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-cryptocurrency-price-usd.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-cryptocurrency-price-usd.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin has fallen to its lowest level since December 2020.<\/figcaption><figcaption><span class=\"credit\">Google Finance<\/span><\/figcaption><\/figure>\n<p>Selloffs in cryptocurrency market have also coincided with downturns in traditional assets over the last several months. Investors have sought to dump their riskier assets, such as cryptocurrencies and high-growth tech stocks, as the Federal Reserve enacts interest rate hikes meant to cool inflation.<\/p>\n<p>The Fed is expected to hike interest rates by a larger-than-normal amount \u2013 potentially as high as 1% \u2014 at its meeting this week after a dismal May Consumer Price Index report that showed inflation rose 8.6%. Consumer prices have surged at their highs rate since December 1981.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>The S&amp;P 500 sank into a bear market during a major selloff on Monday that also saw the Dow Jones Industrial Average plummet more than 800 points. The tech-heavy Nasdaq index was down 530 points, or 4.7%.<\/p>\n<p>The plummeting value of cryptocurrencies has already resulted in major consequences for several firms active in the sector.<\/p>\n<p>MicroStrategy, a software firm that has bet heavily on bitcoin, faced a potential margin call for more collateral after the price dipped below $21,000, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-14\/microstrategy-risks-margin-call-as-bitcoin-drops-below-21-000#xj4y7vzkg\">Bloomberg<\/a> reported.<\/p>\n<p>CoinBase, the largest publicly traded cryptocurrency exchange, revealed Tuesday that it would lay off 18% of its full-time workforce as part of cost-cutting measures meant to help the embattled firm withstand \u201ccrypto winter.\u201d<\/p>\n<p>Coinbase CEO Brian Armstrong \u2013 who had urged unhappy workers to quit the company earlier this week \u2013 said the company had expanded its headcount \u201ctoo quickly\u201d during an era of high growth in the tech sector.<\/p>\n<p>\u201cWe appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period,\u201d Armstrong said.<\/p>\n<p>Several other crypto firms, including the Winklevoss twins\u2019 Gemini, the Peter Thiel-backed BlockFi and Crypto.com, have also indicated plans to cut jobs in response to the crash.<\/p>\n<p>As The Post reported last month, plunging cryptocurrency prices have prompted panic among retail investors who poured their savings into digital tokens.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/14\/crypto-crash-continues-as-bitcoin-briefly-dips-below-21k\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Crypto crash continues as bitcoin briefly dips below $21K&#8221; The price of bitcoin briefly plummeted below the $21,000 threshold for the first time since December 2020 on Monday night as investors braced for a looming recession and reacted to difficulties at a major exchange. Bitcoin was staging a slight rally and was trading near $22,000&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-cryptocurrency-price-drop-comp.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,130298,91267,76127,73785,70359],"class_list":["post-462676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-6-14-22","tag-bitcoins","tag-cryptocurrency","tag-markets","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=462676"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462677"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}