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Bitcoin falls below $50,000, hits lowest since mid-February
Published at 22/02/2021 at 14:29

NEW YORK, Feb 22 (Reuters) - Bitcoin dropped below $50,000 on Monday, hitting its lowest level since mid-February, as investors worried that its price may have gotten too high, too fast.

The world's largest cryptocurrency in terms of volume fell to as low as $47,400 , its weakest in one week. At one point, it lost nearly 17% of its value, or about $160 billion from its total market capitalization.

Bitcoin was last dow 12.3% at $50,495.

(Reporting by Gertrude Chavez-Dreyfuss)

((gertrude.chavez@thomsonreuters.com; 646-223-6322; Reuters Messaging: rm://gertrude.chavez.reuters.com@reuters.net))