There’s more pain for Bitcoin (BTC) investors as the price of the leading cryptocurrency crashed below $20,000 on Friday.

At the time of this writing, Bitcoin is down 8.3% over the day, trading at $19,900 the level last seen on January 13, according to Coingecko.

Ethereum (ETH) is following a similar pattern as the price of the world’s second-largest cryptocurrency is down 9.8% in the past 24 hours, changing hands at the nearly two-month low of $1,383.

In a remarkable change in fortunes for the broader crypto market, which kicked off the year with some hefty gains, pushing Bitcoin close to $25,000, the latest downtrend also saw the wider market capitalization of all cryptocurrencies fall below $1 trillion for the first time since January 19.

Bitcoin, Ethereum in freefall

The industry has been hit some serious headwinds in recent weeks, with the meltdown of the crypto-friendly Silvergate Bank, which entered into voluntary liquidation on March 8, arguably one of the key drivers behind the latest downturn.

Silvergate has been

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Author: Andrew Asmakov

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