Bitcoin, the popuplar cryptocurrency, fell more than 9% monday and remained below $8,000 hitting a low of $7,178.65, according to Coindesk.com, a leading Crypto currency exchange. This was the third time in four days that, amid a broader sell-off in cryptocurrencies, Bitcoin has fallen below the $8,000 mark. In terms of market-capitalization, more than $60 billion has been erased from the cryptocurrency markets in less than 24 hours.
On Friday, bitcoin fell below $8,000 for the first time since November 24. It then rose above $9,000 over the weekend before falling below $8,000 on Sunday and continuing lower in early Monday trading.