Bitcoin's price has fallen to its lowest level since early August.

Like stock markets around the world, the digital currency appears to be responding to the impending bankruptcy of Chinese real estate giant Evergrande.

It has built up 200 billion euros in debt and there is a good chance that it will never be paid off.

Bitcoin's value has fallen by more than 8 percent in 24 hours.

According to CoinMarketCap, the bitcoin price was close to 37,000 euros on Monday afternoon.

That website monitors various platforms on which cryptocurrencies are traded.

Two weeks ago on September 7, a bitcoin was still worth more than 44,000 euros.

Bitcoin does not always move with the stock exchanges, but it now seems that way.

This is probably because the digital currency is increasingly integrated in the financial market worldwide.

Evergrande, the second largest real estate group in China, is struggling with a mountain of debt of more than 200 billion euros and investors fear that a bankruptcy could have a knock-on effect on the Chinese real estate market.

If Evergrande is unable to pay off its debts, that is also a problem for hundreds of financial institutions that have loans outstanding with the group. This threatens a new debt crisis.

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