The price of Bitcoin (Bitcoin) dropped below $8,000 per coin on Monday morning as high volatility in the cryptocurrency markets persists.
Bitcoin, which is now at less than half its December peak of over $19,000, is currently trading at $7,864, according to CoinMarketCap.
Elsewhere in the cryptocurrency markets on Monday, Ethereum (ETH/USD) is lower by just 12% to trade below $800, while Ripple's XRP is 12% lower at $0.783.
Monday's drop comes amid announcements from numerous major banks banning the use of their credit cards to buy bitcoin and other cryptocurrencies. In the USA, JPMorgan Chase, Bank of America, and Citigroup have announced bans, while Lloyds Banking Group is expected to do the same in the UK on Monday.