Bitcoin drops below $50,000 for the first time since February
Cryptocurrencies tumbled over the weekend amid the global market sell-off.
Cryptocurrencies tumbled amid a global market sell-off spurred by recession fears.
The price of bitcoin sank more than 13% on Monday to $50,963.57, according to Coin Metrics. At one point, it fell to $49,111.10 — its lowest level and first time under $50,000 since February.
Article