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According to recent news from CNBC, the price of bitcoin has dropped below $20,000. On top of that, Ethereum fell below $1,000, extending the crypto market to entirely new lows.

The Bitcoin price is now under $25,000, Ether is under $1,200. Crypto companies are reacting to the downtrend. The major cryptocurrencies continue to fall. On the morning of June 13, 2022, Bitcoin broke below $25,000; at the time of publication of this article, the currency is trading at just under $24,300. Ether also continues to lose value and is below $1,200.

In the US, most people lose their cryptocurrency in investment scams. The older the victims, the higher the individual losses. The US consumer protection authority FTC (Federal Trade Commission) has presented details of cryptocurrency fraud in a report. According to this, more than 46,000 people in the USA have reported a case of fraud since 2021, and the losses since then have amounted to more than one billion US dollars in various cryptocurrencies.

Bitcoin mining has been booming in New York in recent years. However, a new law threatens to slow down crypto miners who are eager to break into the business. Hirurg/Getty Images (Canva Pro license)

Panamanian bank Towerbank declared itself friendly to Bitcoin (BTC) and invites users of crypto assets to create accounts. In April, the Legislative Assembly of Panama unanimously approved a bill that regulates the use of cryptocurrencies in the country and applies a 0% tax for capital gains.

USD Coin (USDC) from Cricle/Coinbase is the stablecoin chosen by MoneyGram so that Stellar users can make transfers between them and withdraw FIAT money with the MoneyGram network.

The Brazilian digital bank reported that it will be possible to buy and sell cryptocurrencies, specifically Bitcoin (BTC) and Ethereum (ETH) from its application. Nu Holdings Inc., Warren Buffett's Berkshire Hathaway Inc.-backed digital bank, partnered with PAXOS TRUST Co. to enable its 53 million customers to store, buy and sell crypto assets.

After the UST "stablecoin" hit new lows reaching $0.22, the BTCUST pair reached $138,000 UST rising +300%. The Terra (Luna) cryptocurrency has already lost 94% of its value according to CoinMarketCap data, while TerraUSD (UST) struggles to regain its parity with the US dollar.

Luna Foundation lends $1.5 billion to save TerraUSD (UST), which shows that the algorithm that maintains parity with the US dollar is not working very well. UST suffered on Monday a "sell-off attack" that gave Terra action for the use of its giant Bitcoin (BTC) reserves to shore up its parity with the dollar. Initial liquid injection measures for TerraUSD (UST) proved insufficient and fell to lows of USD 0.68, according to data shown on CoinMarketCap.

Cryptocurrency photo by RODNAE Productions on Pexels. The cryptocurrency market hasn’t been nice to you lately. Then this may have you wondering if this was the right market to invest in.

Pixabay: WorldSpectrum / Source: CoinMarketCap, TradingView. BTC had an initial rise of 5% after the Federal Reserve announced that it would raise the benchmark interest rate in the United States by 1%. But the rise appeared to be short-lived as Bitcoin failed to break above the $40,000 resistance, causing it to drop to as low as $36,000.

Did you know that as of March 2022, there are over 18465 digital currencies in existence? However, of that list, there are about 10,363 active cryptocurrencies (almost 8000 are inactive or dead). And if you’re like me, you’re probably wondering which are the top 20 cryptocurrencies to invest in.

Though economists largely agree that virtual currency replacing cash is a long-term inevitability, some are questioning the current health of crypto culture. This article is based on corporate postings and accredited media reports. All linked information within this article is fully-attributed to the following outlets:The New York Times, The New York Post, The Economic Times, Data-Driven Investor, Bitcoin Magazine, Ad Week, The Street, and Investopedia.

A person or group known as Satoshi Nakamoto wrote a paper thirteen years ago describing a new software system called bitcoin. Bitcoin is already valued over $1 trillion, and it has ignited a phenomena that proponents believe has the capacity to completely restructure the global financial system.

Though the year such action is said to be consummated remains in dispute, economists largely agree that cash and credit as we know it will entirely give way to virtual currency.

Immediately after passing a resolution that it would explore Bitcoin mining, the City of Fort Worth took action. Led by Mayor Mattie Taylor, a small Bitcoin mining farm has now been built in City Hall and three mining machines are now running 24 hours per day, 7 days per week as of April 26!

Trading cryptocurrenciesPhoto by Behnam Norouzi on Unsplash. The cryptocurrency market has not been favorable to investors lately. Since October last year, cryptocurrency prices fell and continue to trade in an up and down movement.

“Never put all your eggs in one basket” - is the most common advice from professional traders. However, new players often get stuck with diversity. In other words, they do not know much about coins other than Bitcoin.

Bitcoin (BTC-USD) is now over the $40,000 mark, going over and under it this past month. Bitcoin is now down over 14.2% so far this year. Today BTC is at $40,914, which is off 14.6% from its prior peak of $47,912 on March 28. Nevertheless, investors might want to take advantage of this weakness, as it is likely to weather the present inflation storm fairly well as a store of value.