The cryptocurrency industry’s “bloodbath” worsened on Wednesday as bitcoin touched fresh lows for the year that put the average buyer of the world’s most popular digital asset deeper in the red.
Bitcoin dropped below $20,000 for the first time since July last year while ether, the token linked to the Ethereum blockchain, fell to nearly $1,000.
The declines mean Bitcoin has shed 70 per cent of its value since last autumn’s peak and is now trading below a widely followed market metric known as its “realised price” — the average paid by buyers for coins in circulation.
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