Bitcoin investors have lost $7.3 billion in just three days as investors traded their holdings during one of the lowest points in the cryptocurrency's history in recent years, Vice reported. Earlier this week, the value of Bitcoin dropped below $20,000 for the first since 2020.
Until a few months ago, rising inflation was a cause of concern for economic markets. After the U.S. Federal Reserve stepped in and increased interest rates, the highest in about three decades, the fears of a recession have now engulfed the markets. Investors have withdrawn capital from the markets looking for safer investment options, and cryptocurrencies, far away from the last year's peaks, were hit even further.
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