Bitcoin Price Drops 16%, Trades Below $50,000

MOSCOW (Pakistan Point News / Sputnik - 22nd February, 2021) The price of Bitcoin decreased by 16 percent on Monday and the cryptocurrency now trades below $50,000.

On Binance, the largest cryptocurrency exchange in terms of trading volume, Bitcoin was trading down 12.38 percent to below $50,000 as of 14:19 GMT.

According to the CoinMarketCap portal, which calculates the average price for more than 20 exchanges, Bitcoin is now falling in price by 13.45 percent to $49,500.

Moments earlier, the price dropped by 16 percent to $47,600.