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Bitcoin drops below $20,000 as crypto winter rages onBitcoin Price (BTC) Drops Below $20, Level for First Time Since January - Bloomberg. Over $70 billion wiped off global crypto market, Bitcoin drops below $20, The collapse of three banks in the US, including the giant. Another factor weighing on crypto prices is the collapse of Silvergate Capital, a major lender to the crytpo industry. Silvergate said Wednesday it is winding down operations and liquidating its bank.