The value of Bitcoin has dropped below $33,000 in a major slump for the cryptocurrency

According to Coinbase, Bitcoin’s value has dropped by 50 per cent since its November peak last year.

Bitcoin has seen its price plunge more than 5 per cent in the last day and more than 14 per cent in the last week.

The fall of the world’s largest cryptocurrency by market value comes as stock markets around the world take a hit too.

On Monday, key European, Asian and US indexes slid lower again.

Investors are opting out of riskier assets for more secure investments like the dollar.

On Monday, London’s FTSE 100 closed down more than 2 per cent, while In the US there was similar scenes

The Dow Jones, S&P 500 and Nasdaq lost more than 1% in opening trade.