Bitcoin Plunges Below $20,000 With ‘Little Reason to Buy.’ It Could Get Worse Fast.

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 ​Bitcoin Drops Below $20,000 With ‘Little Reason to Buy.’ It May Get Worse Fast. Barron’s


Bitcoin

and other cryptocurrencies tumbled Friday, with prices under pressure from stresses within the digital asset industry as well as losses in wider markets. The U.S. jobs report due Friday looms as a key catalyst that could drive further declines.

The price of Bitcoin has fallen 8% over the past 24 hours to $19,825, with the largest crypto dropping to the lowest levels since mid-January. Bitcoin’s big rally to start 2023–which saw it climb above $25,000 from $16,500 in a matter of weeks, spurring calls of a new bull market–looks vulnerable to giving back its gains.

 

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