The cryptocurrency fell below the key $7,000 threshold — the first time it's done so since May. One analyst pinned the decline on China pessimism.
Bitcoin on Monday sank to its lowest level since May, dropping below a key $7,000 threshold. It fell to $6,575 at around 1 a.m. in New York as the world's largest cryptocurrency extended its losing run for an eighth straight day. Reasons for the drift are unclear, but one analyst pinned the drop on China pessimism. On Friday, the People's Bank of China told businesses that are involved with crypto to correct any"improper actions," according to Bloomberg.
Bitcoin on Monday sank to its lowest level since May, dropping below a key $7,000 threshold. It fell to $6,575 at around 1 a.m. in New York as the world's largest cryptocurrency extended its losing run for an eighth straight day. Reasons for the drift are unclear, but one analyst pinned the drop on China pessimism. On Friday, the People's Bank of China told businesses that are involved with crypto to correct any"improper actions," according to Bloomberg.
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