Bitcoin fell below $20,000 on Saturday, extending a slide that has seen it fall over 60% from its year high.

Bitcoin, the world’s most popular cryptocurrency, was last down 1.5 percent at $19,946 on Saturday, down $298 from its previous closing.

It is down 58.7 percent from the year’s high of $48,234 reached on March 28.

Meanwhile, Ether, the token tied to the Ethereum blockchain network, fell 2.76 percent to $1,467.2, losing $41.60 from its previous close.

Bitcoin’s decline follows a poor day for the currency on Friday, when Wall Street plummeted, with all three indices closing more than 3% down.

The drop in risk assets occurred as Federal Reserve Chairman Jerome Powell warned against anticipating a quick conclusion to the Fed’s rate hikes.

Some investors are predicting more pain for equities as a result of the Fed’s interest rate policies.

Bitcoin fell below $20,000 for the first time in mid-July.


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