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According to the New York Times, the fall in Bitcoin was accelerated in recent weeks by the collapse of two major cryptocurrency projects; this sows doubts about the stability of the overall cryptocurrency market.

Questions:

  1. Bitcoin dropped below $20,000 this week. This is the first time since when?
  2. From March 2020 to November 2021, what happened to the price of a single Bitcoin?
  3. What are the signs that Wall Street and Fortune 500 companies have become more open to cryptocurrency that they dismissed during an earlier time? 
  4. What actions have regulators taken with respect to cryptocurrencies and why?

Source:

Griffith, E. and D. Yaffe-Bellany. Bitcoin Plummets Below $20,000 for First Time Since Late 2020. The New York Times, June 18 (Retrievable online at https://www.nytimes.com/2022/06/18/technology/bitcoin-20000.html)

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