The price of bitcoin today fell below $21,000 for the first time since December 2020 during Asian trading amid the ongoing collapse of cryptocurrencies, writes CNBC. The bitcoin exchange rate by 10:13 Moscow time on Tuesday fell by 4.2%, to $22,264. The price of ether, the second most popular cryptocurrency, fell by 2.3% to $1215 thousand. During the session, bitcoin fell by 14%, ether – by 12%, according to Coinbase. The capitalization of world cryptocurrencies on the eve fell below $1 trillion for the first time since February 2021, according to CoinMarketCap. Over the past two days, capitalization has decreased by about $ 200 billion. A new round of decline was provoked by messages from some cryptocurrency exchanges about the suspension of withdrawal operations. So, trading platform Celsius reported that clients are temporarily unable to withdraw money from their accounts and transfer funds between accounts due to “extraordinary market conditions.” Binance, the largest cryptocurrency exchange in the world, has suspended withdrawals for three hours. “Fear, uncertainty and doubt reign in the market right now,” ZebPay analyst Nirmal Ranga said. “Technically, the market looks oversold and bitcoin should hit some kind of bottom in the near future.” Digital currencies are falling along with other risky assets on fears of a sharp tightening of the monetary policy of the world’s central banks and the onset of a global recession. The price of bitcoin has fallen by almost 70% since the high it reached in November last year. Source: FINMARKET.RU

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