Bitcoin investors in Nigeria and other countries across the world suffered a huge loss on Monday as the value of the most popular cryptocurrency dropped by 6.48 percent within 24 hours.
It was gathered that price of the crypto coin dropped between $31,744.99 and $36,119.80 during the period.
However, the price continued to hover below $40,000 per coin.
Analysis of coindesk Bitcoin index showed that $59.92 billion was wiped off the market within 21 hours.
This came a few days after Tesla founder, Elon Musk, hinted that the automaker would begin to accept Bitcoin as a payment option.
The SpaceX founder’s statement had pushed up Bitcoin price to $50,909, just a month after he stunned the world with the announcement that Tesla would no longer accept the crypto coin as a payment option.
The crash in Bitcoin price was also attributed to the Chinese government clampdown on Bitcoin miners in the country.