A latest Forbes report made it known that Bitcoin is experiencing its worst price crash since 2022, falling more than 10 per cent on Monday morning to hit a six month low.

According to the report, Bitcoin dropped below $50,000 (£39,000) for the first time since February before recovering to $52,000 at the time of writing.

The sudden plummet comes after one of the most positive periods in bitcoin’s history, having rallied to a record-breaking $74,000 in March and remained close to that level until this weekend.

Other leading cryptocurrencies have suffered even greater losses, with Ethereum (ETH), Binance Coin (BNB), Cardano (ADA) and Solana (SOL) all falling by around 15 per cent over the last 24 hours.

The overall crypto market has fallen below $2 trillion to $1.85 trillion, having decreased by 13 per cent over the last day. Combined with losses over the previous week, bitcoin has lost nearly a quarter of its value in just seven days.