Bitcoin trades consistently below $20,000 per coin
For the first time since mid-July, Bitcoin has been trading consistently below $20,000 per coin.
On Monday, the largest token fell as much as 2.3% to $19,527, marking the fifth consecutive day of declines.
Crypto follows the sharp adjustment of the U.S. stock market after Fed chair’s rate-hike comments.
Bitcoin has dropped roughly 20% since August 15, and has not traded above $25,000 since July 14.
Strategists have identified $20,000 as a critical level of support for Bitcoin, though levels of support could be lower.
Mark Newton, a Fundstrat strategist, has identified some key areas in the $19,000 range.
Ether, the second-largest token, fell as much as 4.1% to $1,422.67 on Monday, continuing a drop from around $2,000 a few weeks ago.