:Bitcoin dipped below $20,000 on Saturday, continuing a decline that saw it fall nearly 60 percent from its annual high.
Bitcoin, the world’s largest and best-known cryptocurrency, last dropped 1.5 percent on Saturday to $19,946, down $298 from its previous close.
It is 58.7 percent lower than the all-time high of $48,234 on March 28.
Ether, the coin pegged to the ethereum blockchain network, meanwhile fell 2.76 percent to $1,467.2 and lost $41.60 from its previous close.
Bitcoin’s fall comes after a weak day on Friday for the currency, which fell as Wall Street collapsed and all three benchmarks finished more than 3 percent lower.
The weakness in risky assets came after Fed chief Jerome Powell warned against a quick end to the rate cut. The Fed’s move on interest rates has led some investors to forecast more pain for stocks.
Bitcoin was last below $20,000 in mid-July.