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Bitcoin Is Below $20,000, At Lowest Level In The Last 18 Months

Bitcoin is below $20,000, this crypto is at the lowest level since December 2020.

The cryptocurrency has been recording a steady decline for the past few days. This year bitcoin (cryptocurrency) has seen a record drop.

On Saturday, the largest cryptocurrency, Bitcoin, reached below $20,000. Bitcoin is at its lowest level in the last 18 months.

Bitcoin was trading at USD 19,359.70 at the time of writing this news. Bitcoin is down about 59 percent this year, while rival cryptocurrency Ethereum-backed ether has lost a record 73 percent.

Why the decline.

This massive drop in cryptocurrencies has been caused by volatility in the global market.

The global collapse due to the Corona epidemic, the ongoing Russo-Ukraine war since February, rising inflation, and the increase in interest rates by the Federal Bank are among the main reasons for this.

What is cryptocurrency?

Cryptocurrency is actually decentralized digital money based on blockchain technology and secured with cryptography. Now you would like to know what is this Blockchain?

Simply put, a blockchain is a digital ledger (ledger) in the case of cryptocurrency, which only users have the right to use.

This ledger records the transactions of various types of assets which include assets like money, house, etc.

Blockchain rights are shared with the users and the special thing is that the information available here is completely transparent, instant and so secure that it cannot be changed in any way by the users or even the administrator.

How to invest in crypto.

If you want to buy and sell cryptocurrencies, you can buy them from central exchanges, brokers, or anyone who has cryptocurrencies.

You can also sell them through these mediums. The cryptocurrency is credited to your Digit wallet once you have purchased it. There are also two types of Digital Wallets – Hot and Cold.

Hot Digital Wallet is connected to the internet and you can easily buy and sell the cryptocurrencies lying in your wallet.

However, there is a risk of theft and fraud. Cold storage is safe, but it does not make transactions easy.

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