It’s been a cruel summer for crypto markets, with BTC fluttering around its peak price in 2017.
For the third time in as many weeks, Bitcoin fell under $20,000 in late Wednesday trading, extending the June doldrums in crypto to the very end of the month.
The value of a Bitcoin hit $19,984 at around 9:24 p.m. EDT, according to CoinMarketCap, and resurfaced above $20,000 less than 20 minutes later. Shortly after 2:30 a.m. on Thursday, BTC slid hard to $19,387, a market cap drop of more than $16 billion within 12 hours. Bitcoin accounts for more than 42 percent of the overall crypto market.
The price of Bitcoin has dipped below $20,000 at least twice before this month: Tuesday evening and this morning, and more dramatically two weeks ago, when the leading cryptocurrency breached the much-watched threshold after wavering below $25,000 for five days.