{"id":465848,"date":"2022-06-20T20:26:25","date_gmt":"2022-06-20T17:26:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-barely-hits-key-20k-threshold-rattling-investors\/"},"modified":"2022-06-20T20:26:25","modified_gmt":"2022-06-20T17:26:25","slug":"bitcoin-barely-hits-key-20k-threshold-rattling-investors","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-barely-hits-key-20k-threshold-rattling-investors\/","title":{"rendered":"#Bitcoin barely hits key $20K threshold, rattling investors"},"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-6a23a1b2c9db0\" 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-6a23a1b2c9db0\" 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\/bitcoin-barely-hits-key-20k-threshold-rattling-investors\/#%E2%80%9CBitcoin_barely_hits_key_20K_threshold_rattling_investors%E2%80%9D\" >&#8220;Bitcoin barely hits key $20K threshold, rattling investors&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBitcoin_barely_hits_key_20K_threshold_rattling_investors%E2%80%9D\"><\/span>&#8220;Bitcoin barely hits key $20K threshold, rattling investors&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Bitcoin struggled to stay above the key $20,000 threshold Monday as the leading cryptocurrency weathers a prolonged selloff that has sparked fear and uncertainty among investors.<\/p>\n<p>Bitcoin, the world\u2019s largest cryptocurrency by market capitalization, rose a modest 4% to $20,648 as of 11:30 a.m. ET on Monday, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinbase.com\/price\">data from Coinbase<\/a>.<\/p>\n<p>The slight upswing followed a dismal weekend in which bitcoin plunged below $20,00 for the first time since December 2020, hitting a low of $17,592. <\/p>\n<p>While the $20,000 threshold is mostly symbolic, it is widely <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.barrons.com\/amp\/articles\/bitcoin-volatile-20000-crypto-ether-51655711773\">viewed as psychologically important<\/a> to crypto investors. <\/p>\n<p>However, even after the increase, bitcoin is down more than 50% so far this year and roughly 70% from its all-time high of $69,000 last November.<\/p>\n<p>And it might not have bottomed out yet, experts warn.<\/p>\n<p>\u201cBitcoin\u2019s weekend dip was, to put it simply, not deep enough,\u201d Yuya Hasegawa, a crypto market analyst at Bitbank, told <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/06\/20\/bitcoin-btc-rebounds-but-struggles-to-hold-above-20000-.html\">CNBC<\/a>. <\/p>\n<p>\u201cThe macro environment has not really changed from last week\u2019s FOMC meeting: there still has not been a clear sign of inflation coming down and the Fed may still drive the economy into recession by raising rates too aggressively or simply by failing to tame inflation,\u201d Hasegawa added.<\/p>\n<p>Now, some heavily invested entities, such as software firm MicroStrategy, face margin calls for more collateral if bitcoin\u2019s price continues to plummet.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-03.jpg?w=1024\" alt=\"Bitcoin\" class=\"wp-image-22729621\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-03.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-03.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-03.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin has hit its lowest level since December 2020.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>Crypto prices have been volatile for months as markets react to the Federal Reserve\u2019s move to tackle inflation by hiking interest rates \u2013 a plan that has prompted mounting fears that the US economy will tip into a recession.<\/p>\n<p>Investors have steadily unloaded stocks and riskier assets in anticipation of tighter economic conditions. The Fed hiked interest rates by three-quarters of a percentage point earlier this month and is expected to implement a similar bump in July.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"996\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-01.jpg?w=1024\" alt=\"Bitcoin price\" class=\"wp-image-22729617\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-01.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-01.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin rallied to cross above $20,000 after a weekend selloff.<\/figcaption><figcaption><span class=\"credit\">Coindesk<\/span><\/figcaption><\/figure>\n<p>Bitcoin\u2019s muted rally on Monday was mirrored in other cryptocurrencies. Ethereum rose more than 7% to $1,126, while Solana jumped nearly 7% to $34.91.<\/p>\n<p>Crypto lender Celsius Network was among the platforms most severely impacted by the recent downturn. The entity paused bitcoin withdrawals last week due to extreme market conditions and informed users on Monday that it still needed more time to address the situation.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-04.jpg?w=1024\" alt=\"Bitcoin machine\" class=\"wp-image-22729622\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-04.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-04.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-20k-price-investors-04.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin is the world\u2019s largest cryptocurrency.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>\u201cWe want our community to know that our objective continues to be stabilizing our liquidity and operations. This process will take time,\u201d Celsius Network said <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.celsius.network\/a-note-to-the-celsius-community-e5af1f5a7998\">in a blog post<\/a>.<\/p>\n<p>Bitcoin\u2019s price plunge has sparked fears of a so-called \u201ccrypto winter\u201d of sustained losses. Multiple crypto firms have begun layoffs in a bid to protect their balance sheets.<\/p>\n<p>As The Post reported, Coinbase recently laid off 18% of its staffers, with CEO Brian Armstrong warning that the economy <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>eared \u201cto be entering a recession.\u201d Gemini, the trading platform co-founded by the Winklevoss twins, also cut 10% of its workforce.\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\/20\/bitcoin-barely-hits-key-20k-threshold-rattling-investors\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bitcoin barely hits key $20K threshold, rattling investors&#8221; Bitcoin struggled to stay above the key $20,000 threshold Monday as the leading cryptocurrency weathers a prolonged selloff that has sparked fear and uncertainty among investors. Bitcoin, the world\u2019s largest cryptocurrency by market capitalization, rose a modest 4% to $20,648 as of 11:30 a.m. ET on Monday,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":465849,"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-20k-price-investors-comp-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,130516,76127,5069,72667,73785],"class_list":["post-465848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-6-20-22","tag-cryptocurrency","tag-economy","tag-investors","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/465848","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=465848"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/465848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/465849"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=465848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=465848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=465848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}