Bitcoin price crashes as recession fears drive investors away from crypto | Business

Bitcoin crashed on Saturday to its lowest price in 18 months, breaking below the key level of $20,000 as investors fearful of a global recession shunned cryptocurrency assets.

The largest of the digital currencies dropped dramatically, losing 9 per cent of its value, at the end of one of the most turbulent weeks on global markets since the outbreak of Covid-19 in 2020.

About 2.3 million British investors hold crypto assets, many of them bitcoin, as what started as a niche investment has gone mainstream in recent years.

Could the next crypto crash engulf the entire financial system?

Interest rate rises in America, the UK and Switzerland sparked a dramatic reversal in sentiment on global markets last week, amid fears that the world’s biggest

Read more at www.thetimes.co.uk

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