Bitcoin, the world's best-known electronic currency lost its value by 17% in 24 hours being worth less than $50,000 this Monday, according to Investing.

The devaluation that began late last week has followed a broader negative sentiment on international markets as the new Covid-19 variant is penalizing the outlook for economic recovery.

This fear has led investors to retreat into safer assets, such as US bonds.

At its current level, Bitcoin is 30% below the all-time high recorded in early November around $69,000.