On Sunday, Bitcoin fell 1.54% to $19,844, falling below the $20,000 mark after losing $310 since its last close.

The biggest and most well-known cryptocurrency in the world has lost 58.9% of its value since March 28, when it was worth $48,234.

Ether, the cryptocurrency linked to the Ethereum blockchain network,

fell 3.2 percent on Sunday to $1,422.1, or $47 lower than the previous day.

The Biden administration is getting closer to creating a central bank digital currency called the "digital dollar.

According to the Biden administration, this would help strengthen the US's role as a leader in the world's financial system.  

Bitcoin fell 1.54% to $19,844, falling below the $20,000 mark after losing $310 since its last close.

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