Today, Wednesday, Bitcoin fell to an 18-month low, dragging smaller cryptocurrencies with it, as the recent decline in the cryptocurrency markets showed no sign of stopping.

And Bitcoin fell 6.3% to $ 20,715.7, its lowest level since December 2020 in trading today.

It is currently trading at a lower level also at 20 thousand and 640 dollars.

Bitcoin has lost about 28% of its value since Friday, and more than half its value this year.

Since hitting a high of $69,000 in November, Bitcoin has fallen by nearly 70%.

Bitcoin plunged after US crypto lender Celsius this week froze withdrawals and transfers between accounts, raising fears of broader repercussions in the digital asset market.

Expectations of more US interest rate hikes, aimed at combating high inflation in the world's largest economy, have increased pressure on risky assets from cryptocurrencies to stocks.

Smaller cryptocurrencies affected by Bitcoin's movements also fell, with Ether, the second largest cryptocurrency, dropping 9.4% to $1,090.

The market capitalization of Bitcoin reached $393.2 billion, with a total of 19.067 million units in circulation out of a total of 21 million units in circulation.

The market value of the total virtual currencies around the world decreased yesterday to $ 955.5 billion, distributed over 19,853 virtual currencies, which are traded through 526 platforms, according to data from the CoinMarketCap website.

The weekly losses for cryptocurrencies amount to $263.5 billion.

A report in the American newspaper "New York Times" published last month said that cryptocurrencies are leading the world towards a "death spiral", destabilizing this type of market.

The report also described investing in cryptocurrencies as risky speculation.

Virtual currencies do not have a serial number and are not under the control of governments and central banks, like traditional currencies, but are dealt with only via the Internet, without a physical presence of them.