The price of bitcoin plunged to a two-month low late Monday, falling below the $7,000 mark.
The world’s largest cryprocurrency was last down 9% in late Monday trading, at $6,471.54, its first foray below $7,000 since mid-November. Bitcoin
is down more than 60% since its record high above $19,700 in mid-December.
The overall cryptocurrency market has fallen more than 50% since early January, according to CoinDesk, with the industry’s overall market cap plunging from about $830 billion to about $366 billion.
For the full day, bitcoin is down almost 20%. (MarketWatch data starts the new trading day at 5 p.m. Eastern.)
Ether, the coin on the Ethereum blockchain and the second-largest virtual currency, was down 21% Monday, according to CoinMarketCap.com. Ether was last trading at $652.57. Ripple was last at 64 cents, down 19%, and bitcoin cash was at $880, down 22% for the day.
Still, bitcoin is still up more than 600% in the past year, and the overall crypto market is up more than 1,800% since February 2017.