Bitcoin cryptocurrency news: Crypto tokens plummet by £470 BILLION since January | City …

Investors across the world rushed to put their money into digital currencies such as Bitcoin, Ethereum and Ripple after their price began to surge in late 2017.

But as the cryptocurrency bubble burst their value has slumped by 75 percent, according to data from coinmarketcap.com, and the losses have left some investors in financial ruin.

The surge in crypto investment was largely driven by the well-known Bitcoin which received extensive media coverage in late 2017 as its value rocketed.

The boom attracted thousands of investors eager not to miss out on the next big thing and the cryptocurrency peaked at nearly $20,000 per coin in December 2017.

But today Bitcoin is trading at $6,490 – a huge gain on its January 2017 value of just $1,000 but far less than many investors paid.

Pete Roberts from Nottingham was one of thousands of people caught up in the cryptocurrency craze and invested his savings of £18,000 into several virtual currencies.

But eight months after investing, his digital…