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Bitcoin continued its decline after a strong decline on Saturday and fell on Monday by more than 3% to settle around $47,700 levels.
Bitcoin lost about a fifth of its value during trading on Saturday, and some attributed this strong decline to profit-taking and global fears, but then managed to recover some points to settle below the $5,000 levels.
Cryptocurrencies recorded notable declines over the weekend in response to the US Federal Reserve’s indications last week that it should act to accelerate the pace of reducing asset purchases. These declines also came as a result of the wave of sales witnessed by the US stock markets, especially after the release of the US employment report for the non-farm employment index, which came less than expected. In addition to fears of the spread of the new mutant.
