Declining confidence of investors weighs on value to cryptocurrencies

Bitcoin extended its falls on Monday to $3,843, down more than five per cent from the day's highs on renewed selling in cryptocurrencies.

Other cryptocurrencies also fell sharply, with Ethereum's ether down 1.6 per cent and Ripple's XRP down a similar amount in a largely sentiment-driven slide.

Bitcoin was last trading at $3,880 -- holding above 2018 lows hit last week. A broad-based selloff in digital currencies has knocked off three-fourth in value of the world's best-known cryptocurrency this year.