Bitcoin (BTC) hit a new multi -month low on monday, Feb. 5, dropping below $7000 for the first time since the middle of November 2017.
According my estimates price, BTC reached as low as $6000 on Monday, losing at least 11 Percent of value the 24 hours to press time, and about 60 percent of the last 30 days.
The sharp drop BTC was mimicked by the prices of altcoins, with the top 50 coins losing up to 31 percent of value over the last 24 hours. Ethereum (ETH) experienced a decrease of about 11 percent, while Bitcoin Cash (BCH) and NEO dipped 17 and 16 percent respectively.
The latest cryptocurrency market decline has likely been caused in larged part by the recent news from China that all forign cryptocurrency exchanges are to banned by the "People's Bank of China" (PBoC).