Bitcoin (EXANTE: Bitcoin) fell over 7 percent Monday, below $8,000 following weeks of regulatory uncertainty and advertising crackdowns by tech companies, CNBC reported.
The cryptocurrency is down more than 42 percent year-to-date after starting this year above $13,000 and has dropped roughly 60 percent from its high near $20,000 in December.
Other cryptocurrencies are also trading lower Monday.
Ethereum (ETH/USD), the second largest cryptocurrency by market capitalization, is down 10,15%.
Ripple (XRP/USD) and Bitcoin Cash (EXANTE: Bitcoin.Cash) have dropped 8,49% and 9,06% respectively. Litecoin (LTC/USD) has lost 9,91% over the past 24 hours, according to CoinMarketCap.com.
Prices moved lower after Twitter announced it would ban advertising for cryptocurrencies “to protect investors from fraud.”