The Great Crypto Crash

Bitcoin dipped below $20,000 for the first time since late 2020, indicating that the cryptocurrency selloff is intensifying.

The most popular cryptocurrency's price had dropped by more than 13%, reaching a low of $17,593.

Bitcoin has lost more than 70% of its value. The bitcoin price peaked in 2021 at $68,000.

Ethereum-backed ether is down 74%. Ether surpassed $1,000 before falling over 19 percent to $891, its lowest level since January 2021.

Both of the crypto market's bellwethers are down more than 70% from their all-time highs in early November.

Cryptocurrency assets has plunged from $3 trillion to less than $1 trillion since early November.

The global market value of cryptocurrency is around $840 billion.