Bitcoin prices have tumbled more than 10% in morning trading, dipping below the $800 mark.
Markets saw an average low of $779.54, according to the CoinDesk Bitcoin Price Index (BPI), the first time the price has been reported below $800 since 21st December. The drop came after the price traded just above $900 during overnight activity.
2017 has been a volatile year thus far for the digital currencyâ€™s price. The start of the week saw the price shift above and below $900 as concerns over rumors of new regulations coming out of China circulated on social media, though market observers appear to be split on what the long-term impact may be.
The price is currently trading at aroundÂ $804, BPI data shows.
CNY-denominated markets are down more than 9% at press time, averaging Â¥5,405.69, according to the BPI, after falling to a low of Â¥5,194.32.
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