Bitcoin continued to fall on Monday afternoon, trading at its lowest level since mid-November.
The latest drop comes after banks in the US and UK said they would ban people from using their credit cards to buy bitcoin.
China and India crackdown
There were reports on Monday that the Indian authorities were mounting a crackdown on cryptos and the Chinese authorities were also considering additional measures to put an end to crypto trading.
China is reported to be planning to block access even to overseas crypto trading platforms.
As at 1530 GMT, bitcoin was just over 12% lower on the session, trading around $7,195.
It marks the continuation of a massive sell-off since bitcoin reached a peak of $20,000 in mid-December.