Cryptocurrency market is down over 50%

Cryptocurrency market is down over 50%

Bitcoin price dropped below $7,00 on Monday, Feb. 5. It is the most significant fall since November. The cryptocurrency market continues to weaken from past week.

CoinDesk's Bitcoin Price Index (BPI) declained more than 15% down to $6,888.45. The price of bitcoin was about $6,993.10 on Monday evening.

Cryptocurrency market today is down more than 50% in comparison with the level at the beginning of January, informed CoinDesk. Capitalization of cryptocurrency is about $332 billion now.

Ethereum has fallen to $700 during the day's trading too alongside with bitcoin. Experts suppose this situation was influenced by the block of the overseas trading websites in China. In addition the number of banks through the world banned the using their credit cards for trading cryptocurrencies last week.

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