Bitcoin 'heading to zero', says China state media

While the turbulence in markets continue due to current global downturn, cryptocurrencies seem to have taken a major hit especially after last week's plunge. Bitcoin, the world's largest cryptocurrency, dropped below $20,000 last Saturday to its lowest level in 18 months, extending its slide as investors pulled back from riskier assets amid rising interest rates. Now, according to a report in Chinese state-run newspaper Economic Daily , the price of the digital currency is set to be "heading to zero". This comes as the uncertainty in the cryptocurrency market prevails. Up until Saturday, the Bitcoin has been hovering around the…