Bitcoin falls 4.69% – China warns bitcoin could fall to 0 after crypto market collapses

The price of Bitcoin fell 4.69% this morning (June 23) to $19,998.90.

Bitcoin moved into negative territory this morning after the Dow Jones Industrial Average fell in a narrow 47-point range.

  • The Dow Jones Industrial Average fell 47.12 points, or 0.15%, to close at 30,483.13 points.
  • The S&P 500 was down 4.90 points, or 0.13%, to close at 3,759.89 points.
  • Nasdaq was down 16.22 points, or 0.15%, closing at 11,053.08 points.

Movements in the Crypto Space

Amidst the market volatility, it looks like Bitcoin has entered a full bear market. It recently slipped below $19,000 before rising back above $20,000.

Economic Daily, which is run by the Central Committee of the Communist Party of China, has warned investors about the risk of Bitcoin becoming “0” after the June 22 crypto meltdown.

“Bitcoin is not just a huge amount of digital code. Most of the returns are just speculation. In the future, when investor confidence decreases or when a sovereign country declares that Bitcoin is illegal, it will return to its original value, it is worthless,”

they warned.

Bitcoin is hovering around $20,400 and has fallen more than -4.47% in 24 hours and -3.58% in the last 7 days, with some analysts suggesting that Bitcoin could fall as low as $10,000.

The Spot Market is Open

Thursday, June 23, 2022

Crypto
Updated at
USD
Price

Change

%Change
13.00 BTC20,325.84-357.53-1.73
13.00 ETH1,084.04-25.38-2.29
13.00 LTC54.91+2.31+4.39
13.00 BNB220.26+0.92+0.42
13.00 XRP0.33+0.00+0.25
13.00 ADA0.47-0.00-0.68
13.00 DOT7.60-0.10-1.35
13.00 DOGE0.06-0.00-0.50
13.00 UNI5.12-0.12-2.29
13.00 LINK6.87-0.02-0.25

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