Bitcoin drops below $20,000.

Bitcoin drops below $20,000.

Bitcoin was able to fall below the psychologically significant threshold of $20,000 on Saturday, in the very first time since the end of 2020.

The price of the most well-known cryptocurrency plunged as low as 9.7 percent to less than $18,600 in the evening on the East Coast.

In some instances during the course of the day, this was lower than $18,000.

The last time Bitcoin reached that level was in November of 2020.

Many in the industry thought that it wouldn't drop below $20,000 for the second time.

Ethereum is a different cryptocurrency that has been on the decline lately, suffered another plunge on Saturday.

Bitcoin has fallen by more than 70 percent of its value since the time it hit its highest.