Bitcoin Price Continues To Plunge, Fells Below $19,000

According to Reuters, cryptocurrencies fell to new lows on Monday, due to regulatory concerns, and global investors shunned risky assets, and a rise in global interest rates was imminent.

Bitcoin, the largest cryptocurrency by market capitalization, fell about 5 percent to $18,387, hitting a three-month low .

The second-largest cryptocurrency, ether, fell 3 percent to a two-month low of $1,285, down more than 10 percent in the past 24 hours, AndroBliz has learned. Most of the other smaller coins are in the midst of even bigger declines.

The token’s value has fallen amid speculation that SEC Chairman Gary Gensler’s remarks last week suggested the new structure could attract additional regulation. Trades surrounding the upgrade were also closed.

"It's speculation about what may or may not happen," said Matthew Dibb, chief operating officer of Singapore-based crypto platform Stack Funds, of the regulatory outlook. Given the global tensions, he also said that ether could be more expensive in the coming months. fell to $950.

"Fundamentals and technicals, it's not very good right now. There is no immediate bullish factor, there is not a lot of new money and liquidity that will support these markets."