On Binance, the largest cryptocurrency exchange by trading volume, Bitcoin was trading down 20.86 percent at $31,496, as of 14.13 GMT.
The world's most famous cryptocurrency, Bitcoin, has seen an unprecedented surge over the past couple of months, eventually more than doubling its previous record set in late 2017, in spite of all the factors that normally would cause a commotion among investors, especially a pandemic.
Bitcoin hit an all-time high on Friday at $42,000.18.
Launched in early 2009, Bitcoin was the first cryptocurrency founded on a decentralised blockchain-based network and at the moment it is considered the world's biggest cryptocurrency by market capitalisation and the amount of data stored on its blockchain.
It accounts for approximately 68.5 percent of the entire global cryptocurrency market.