Bitcoin is slipping further into the red

Bitcoin continued its downward slump this morning as negative sentiment caused investors to sell.

At the time of writing, the price of the digital currency was down 4.55 per cent at $7,576.30, according to Coindesk's aggregate index.

"Last week’s negativity around bitcoin hasn’t faded away, and there isn’t any significant improvement in the bull power. Bitcoin, from the weekly graph, has slid significantly, since the tech giants’ ban on ICOs [initial coin offerings]," said Naeem Aslam, chief market analyst at ThinkCoin.

Twitter became the latest tech giant to ban the advertising of ICOs or cryptocurrency wallet services on Monday, following in the footsteps of Google and Facebook.

Aslam added that there was still some good news to be had about bitcoin and other cryptocurrencies, like the fact that G20 world leaders have started mulling crypto regulations and that the Bank of England is willing to try out distributed ledger technologies.

While this is good news in the long term, Aslam said it has yet to impact bitcoin's price.