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BREAKING
Iran's IRGC spokesperson: Wave 20 of Operation True Promise 3 targeted Ben Gurion Airport, the Zionist entity's biological research center, and support bases and command and control centers of various levels
Israeli media: 15 injuries transferred to hospitals, including two in critical condition
Israeli media: 27 missiles were launched from Iran in two barrages
Israeli army spokesman says another barrage of Iranian missiles was launched toward 'Israel', demands settlers to adhere to instructions
Israeli media: Two people seriously injured by Iranian missiles
Spokesperson for the Israeli Fire and Rescue Authority: A number of buildings were destroyed as a result of a direct hit by Iranian missiles in the coastal area
Sirens sound in Haifa, Tabarayya, and northern occupied Palestine
Israeli media: A new barrage of Iranian missiles targets northern occupied Palestine
Israeli media: At least 3 barrages of missiles were fired and are still being fired toward 'Israel'
Israeli media: More than 20 Iranian missiles are suspected to have made impact in Haifa and the inner coastal area

Bitcoin crashes below $20,000, reaches 2-year record-low

  • By Al Mayadeen English
  • Source: Agencies
  • 18 Jun 2022 11:52
2 Min Read

Bitcoin falls by another 6% in value reaching a record low for the first time since December 2020. This crash is the second of its kind after bitcoin lost around 50% of its value earlier in May.

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  • bitcoin drops below $20,000 for the first time since December 2020 (Reuters)
    bitcoin drops below $20,000 for the first time since December 2020 (Reuters)

For the first time since December 2020, Bitcoin fell 6.98% in value thus dropping below the $20,000 mark, as shown by trading data on Saturday. At 07:00GMT on Saturday, Bitcoin hit $19,487 as shown on the largest cryptocurrency exchange platform, Binance.

CoinMarketCap, a portal that calculates the average of over 20 exchanges, the price of Bitcoin sunk to $19,554, falling by 6.50%.

Earlier in May, Bitcoin’s price fell by almost 50 percent from its November record high as the value of most risky assets dropped, on May 9th, due to fears that the Federal Reserve could send the US economy into recession by embarking on the highest rate hike in three decades.

Read more: FBI eyes crypto economy after OpenSea employee arrested

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Furthermore, Ethereum and other cryptocurrencies also crashed earlier this month in parallel to the stock crash and global economic recession. 

Ethereum, the second most valuable cryptocurrency in the market, experienced a brutal drop following Bitcoin’s crash. The currency’s value sank by 15% in two days after an aggressive sell-off by investors.

Ethereum is now valued at a low of $996.88, which is the lowest it has gotten since March 2021. The cryptocurrency peaked at $4,878 which meant that the drop in value with respect to the highest value reached is approximately 94.8%. 

Previously this month, the Federal Reserve increased its target interest rate by three-quarters of a percentage point and estimated a slowing economy and more unemployment in the coming months.

"The Committee decided to raise the target range for the federal funds rate to 1-1/2 to 1-3/4 percent and anticipates that ongoing increases in the target range will be appropriate," the central bank’s Federal Open Market Committee (FOMC) said in a statement on its monthly rate decision for June.
 
The rate hike was the biggest since 1994, and US central bank officials warned of a faster rate hike in the future.

Read more: Pelosi blames US inflation on “war in Iraq”

  • Cryptocurrency
  • Cryptomarkets
  • Bitcoin
  • Ethereum
  • Federal reserve
  • Bitcoin crash

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Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

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  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

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  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

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Iran's heavy barrages impact multiple Israeli targets overnight

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  • Palestine
  • 18 Jun 2025

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