Bitcoin plunges below $19,000 amid economy worries
The digital currency declined 5.7% at $18,978.60 and is down around 58% this year
• The digital currency declined 5.7% at $18,978.60 and is down around 58% this year
Bitcoin fell below $19,000 on Thursday amid worries surrounding US economy due to soaring inflation and rising interest rates.
According to Coin Metrics, Bitcoin plunged 5.7% at $18,978.60 and is down around 58% this year.
The world’s largest digital currency has fallen about 72% from its all-time high in November of $68,990.90.
Similar to stock indexes, bitcoin has also been affected as investors are worried about recession. S&P 500 capped its worst first half in more than 50 years.
On Thursday, the Dow Jones Industrial Average declines 253.88 points, or 0.8%, to 30,775.43. The S&P 500 fell nearly 0.9% to 3,785.38, while the Nasdaq Composite plunged 1.3% to 11,028.74.
Picture Credits: Getty Images
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