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Crypto industry fears contagion as bitcoin slips under $20,000

The cryptocurrency industry was on edge on Monday as bitcoin struggled to stay above a key level, with investors fearing that problems at major crypto players could unleash a wider market shakeout. Bitcoin, the world’s biggest cryptocurrency, was trading just under the symbolic level of $20,000 in early London trading hours – roughly the peak of its charge to its previous record in 2017. Bitcoin had dropped on Saturday to as low as $17,592.78, falling below $20,000 for the first time since December 2020.

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