A bitcoin’s value has dropped to new record lows as the cryptocurrency’s trading volume is now below $2,000 per unit.
Bitcoin’s price has slumped to $1,230.87 per unit on Monday as it has lost almost 40 percent of its value since the start of the year, according to CoinDesk data.
The cryptocurrency’s market cap has now surpassed $16 billion, according the research firm.
The total value of all cryptocurrencies has plunged to $2.3 trillion according to data from CoinMarketCap.
However, the cryptocurrency is not the only asset that has been trading at record lows.
The price of gold has dropped from $1.934 per ounce to $925.17 per ounce since December, according data from CME Group.
Gold has fallen because of a collapse in demand for the precious metal from China and Europe, according an article in the Financial Times.
A recent survey from Bloomberg News found that US consumers are also more likely to hoard money than they used to, with nearly three-quarters of consumers having a $50,000 or more stash, compared to 58 percent in 2016.
The price of the greenback, meanwhile, has risen by $12.7 billion since its January high, according Bloomberg data.