Bitcoin inches up above psychological threshold of $20,000

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OAKLAND, California — The price of a bitcoin inched above $20,000 on Sunday after the broader crypto selloff dragged it below the significant psychological threshold a day earlier.

The price of the world’s most popular cryptocurrency was $20,129.70 as of Sunday afternoon. On Saturday, bitcoin had plunged as much as 9.7% to less than $18,600 by late afternoon on the East Coast, according to the cryptocurrency news site CoinDesk. At some points during Saturday, it was below $18,000.

On Sunday, though, the volatile cryptocurrency climbed higher, though it is still more than 70% below its November 2020 all-time high of nearly $69,000. Many in the industry had believed it would not fall under $20,000 again.

Ethereum, another widely followed cryptocurrency that has been sliding in recent weeks, took a similar tumble Saturday to well below $1,000 but also regained ground Sunday, adding nearly 11% to $1,101.81.

The cryptocurrency industry has seen…

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