Bitcoin Continues to Bleed, Falls Below $50K

Bitcoin (BTC) continued its downward slide during the Asian trading hours on Monday, plunging below $50,000.

At the time of writing, Bitcoin was trading near $49,200, a level last seen in late February.

The sell-off in bitcoin and the overall crypto market has been triggered by a wider fall in the financial markets as the fears of global recession and rising tension in the Middle East has investors hitting the panic button.