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Bitcoin falls below $50,000, hits lowest since mid-February

02/22/2021 | 09:24am EST

NEW YORK, Feb 22 (Reuters) - Bitcoin dropped below $50,000 on Monday, hitting its lowest level since mid-February, as investors worried that its price may have gotten too high, too fast.

The world's largest cryptocurrency in terms of volume fell to as low as $47,400, its weakest in one week. At one point, it lost nearly 17% of its value, or about $160 billion from its total market capitalization.

Bitcoin was last dow 12.3% at $50,495. (Reporting by Gertrude Chavez-Dreyfuss)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO -0.04% 42901.4 Real-time Quote.81.81%
BITCOIN - UNITED STATES DOLLAR -0.59% 50886.14 Real-time Quote.77.26%
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