Over $60 billion wiped off value of cryptocurrencies as bitcoin drops below $8,000 again

The price of bitcoin fell below $8,000 for the third time in four days on Monday.Over $60 billion was wiped off the value of the entire cryptocurrency market in 24 hours.The prospect of tougher regulation in China and India, claims that tether could be propping up the market, and banks

Bitcoin fell below $8,000 for the third time in four days on Monday amid a broader sell-off in cryptocurrencies that has seen over $60 billion of valued erased from the market in 24 hours.

On Friday, bitcoin fell below $8,000 for the first time since November 24. It then rose above $9,000 over the weekend before falling below $8,000 on Sunday.