Bitcoin dropped 6.13% to $47,606.92 on Tuesday, losing $3,111.19 from its previous close.
Bitcoin, the world's biggest and best-known cryptocurrency, is down 31% from the year's high of $69,000 on Nov. 10.
Ether, the coin linked to the ethereum blockchain network, dropped 5.57 % to $3,812.6 on Tuesday, losing $224.8 from its previous close.
