The two main cryptocurrencies by capitalization continue to fall in double digits in the last 24 hours, which has led bitcoin to fall below the psychological barrier of $ 18,000, and ethereum below 900.
In this way, the cryptocurrency created by Satoshi Nakamoto regresses to levels not seen since November 2020 and deepens into a territory in which the electricity cost of mining the cryptocurrency is no longer profitable for miners.
Bitcoin’s collapse has been accelerated in recent weeks by the collapse of two major cryptocurrency projects, Terra-Luna and Celsius, while also casting doubt on the stability of the cryptocurrency market in general.
In the last week, bitcoin has plummeted more than 35% and only on Monday it fell 17%. Since the beginning of the year, the percentage of decline is 61%. Currently bitcoin, which reached $64,400 at the end of 2021, was in a relentless fight to maintain 20,000 until it finally lost them on the night of Friday to Saturday.
For its part, in ether, the movements are even greater, with setbacks of 40% weekly and 75% so far in 2022. In total, Ethereum falls about 80% from its all-time highs in 2021, when it conquered the $4,600.