Bitcoin continues volatile price fluctuations as it repeatedly dips below $19k

Cryptocurrency has dropped from sky-high ceiling in November and continues to slide.

Updated: June 30, 2022 - 1:30pm

Cryptocurrency Bitcoin dropped below $19,000 several times on Thursday, the first time it has done so since late 2020 as the exchange medium continues to see declining fortunes after a sky-high ceiling last year. 

Early trading on Thursday saw Bitcoin take a sharp drop from just under $20,000 to just hover around $19,000, at two different points dropping below the latter number for the first time since December of 2020. 

Bitcoin's value sharply increased beginning in November of 2020, staying sharply elevated throughout most of 2021 and reaching a high of around $64,000 in November of that year. 

Its value began to rapidly decrease after that, however, with the currency having been on a largely unbroken downward trend since April of this year. 

Experts have pointed to inflation, recession fears and rising interest rates as some of the factors exerting a sharp downward pressure on the currency.

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