Bitcoin price hits lowest level since late 2020

The price of bitcoin fell below $24,000 on June 13, hitting the lowest level since the end of 2020, reports . Bloomberg

The price of crypto assets continues to decline. On Monday, Ethereum, Avalanche and Dogecoin fell by 20%, Solana - by 19%, bitcoin - by 15%.

According to CoinGecko, the cryptocurrency market capitalization is now around $1.02 trillion, up from $3 trillion in November. And the MVIS CryptoCompare Digital Assets 100 index, which tracks the 100 most popular tokens, fell 15%.

As the agency notes, digital currencies are getting cheaper on investors' fears about the Fed's tougher measures to combat inflation - on May 4, the American financial regulator raised the federal bond rate by 50 basis points at once, which happened for the first time since 2000. The collapse of the Terra project with its UST stablecoin and LUNA token last month further shook the faith of crypto investors.