Bitcoin dipped below $20,000 on Saturday, continuing a drop that has taken it down nearly 60 percent from its year high.
Bitcoin, the world’s biggest and best-known cryptocurrency, was last down 1.5 percent at $19,946 on Saturday, down $298 from its previous close.
It is down 58.7 percent from the year’s high of $48,234 hit on March 28.
Ether, the coin linked to the ethereum blockchain network, meanwhile dipped 2.76 percent to $1,467.2, losing $41.60 from its previous close.
Bitcoin’s fall comes after a weak day on Friday for the currency, which fell as Wall Street slumped with all three benchmarks ending more than 3 percent lower.
The weakness in risk assets came after Federal Reserve Chief Jerome Powell cautioned against expecting a swift end to its rate tightening. The Fed’s actions on interest rates has caused some investors to forecast more pain for equities….