Bitcoin briefly fell below $20,000 on Wednesday as a number of factors from macroeconomic worries to issues with cryptocurrency companies continue to weigh on the market.
The US economy shrank 1.6% in the first quarter, adding to recession fears
The US economy shrank at a slightly faster rate than previously estimated during the first quarter, the Bureau of Economic Analysis said Wednesday.
Powell vows to prevent inflation from taking hold in the U.S. for the long run
Federal Reserve Chair Jerome Powell vowed Wednesday that policymakers would not allow inflation to take hold of the U.S. economy over the longer term.