Bitcoin price has fallen the most in two years

The price of bitcoin has fallen below $16,000, the lowest since November 2020.

The cryptocurrency crash continues for a second day as investors react to the possible collapse of the cryptocurrency exchange FTX.

On Novеmber 8, the largest exchange, Binance, announced its intention to acquire FTX in a strategic deal, but on the night of November 9, it announced it was canceling the deal.

This decision by Binance led to the deepest drop in the bitcoin price in two years.

Binance made the decision to abandon the deal following an investigation into reports of misuse of customer funds and claims against FTX.