Bitcoin Sees Strong Correction

Bitcoin and other cryptocurrencies saw strong correction on Monday with profit making leading to market losses of about $200 billion in market cap.

The world’s largest digital asset has been on a rising streak of late, breaking multiple consecutive records, on the back of increased demand, especially from institutional investors.

Bitcoin is currently trading below $34,000, with daily losses of about 8.3%.

This has limited the gains of Bitcoin over the course of the seven past days to 4.55%.