Bitcoin Drops Below $8,000 after Another Bank Ban on Credit-Card Buying Hits

(From Marketwatch)

The cryptocurrency selloff got a reboot on Monday, as bitcoin pushed below $8,000 on news a major U.K. bank had banned purchases of digital currencies via its credit cards.

Bitcoin BTCUSD, -5.89% was most recently trading at $7,951, a drop of 2.9%, leaving it at levels not seen since late November. The spot price briefly fell below $8,000 on Friday, then recharged and rose to as high as $9,471.46 on Saturday, before dropping back again, according to CoinDesk.com.

Early Monday, the total market value of bitcoin stood at around $377 billion, according to CoinMarketCap. The global cryptocurrency coughed up around $103 billion in about 24 hours at the end of last week.

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