Why bitcoin’s down

The overall cryptocurrency market took a hit on Monday morning, with the price of bitcoin, the largest cryptocurrency by market value, falling below $44,000. It’s currently trading at around $44,068, down about 7.45% in the last 24 hours.Other top cryptocurrencies are also in the red.Ether, the second-largest, is currently trading at about $3,106, down 7.76% in the last 24 hours. As a whole, the global cryptocurrency market cap is down more than 8% in the last day.This comes as investors fear the fallout from the near collapse of indebted Evergrande, a Chinese property developer so massive it could effect the global economy, which sparked a sell-off of volatile investments like crypto, and also amid concerns about potential cryptocurrency regulation in the U.S.In addition, here are four things that happened in the space this week.