<p>Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates.</p>.<p>The biggest cryptocurrency was down 7.1 per cent to $18,993 at 0906 GMT, having earlier touched $18,732, its lowest since December 2020.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/business-news/bitcoin-tumbles-to-new-18-month-low-1118324.html" target="_blank">Bitcoin tumbles to new 18-month low</a></strong></p>.<p>It is down about 59 per cent this year, while rival cryptocurrency Ethereum-backed ether is down 73 per cent.</p>.<p>The digital currency sector has been pummelled this week after cryptocurrency lending company Celsius froze withdrawals and transfers between accounts.</p>.<p>The sector has also suffered losses after companies such as Coinbase Global Inc, Gemini and Blockfi said they would lay off thousands of employees as investors ditch risky assets.</p>
<p>Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates.</p>.<p>The biggest cryptocurrency was down 7.1 per cent to $18,993 at 0906 GMT, having earlier touched $18,732, its lowest since December 2020.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/business-news/bitcoin-tumbles-to-new-18-month-low-1118324.html" target="_blank">Bitcoin tumbles to new 18-month low</a></strong></p>.<p>It is down about 59 per cent this year, while rival cryptocurrency Ethereum-backed ether is down 73 per cent.</p>.<p>The digital currency sector has been pummelled this week after cryptocurrency lending company Celsius froze withdrawals and transfers between accounts.</p>.<p>The sector has also suffered losses after companies such as Coinbase Global Inc, Gemini and Blockfi said they would lay off thousands of employees as investors ditch risky assets.</p>