RATE Group | Cryptocurrencies including Bitcoin plunge 80 in value
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Cryptocurrencies including Bitcoin plunge 80 in value

13 Sep Cryptocurrencies including Bitcoin plunge 80 in value

Posted at 15:55h in Bitcoin News by

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Cryptocurrencies, including Bitcoin, have plunged in value by 80 per cent since their new year high, according to the MVIS CryptoCompare Digital Assets 10 Index.

The index tracks the performance of the 10 largest crypto companies, including Bitcoin, Ethereum, Dash, and Litecoin.

Cyrptocurrency values have fallen by 80 per cent since the start of the year

MVIS Investable Indices

Cyrptocurrency values have fallen by 80 per cent since the start of the year

But today’s figures show the combined value of these currencies has today fallen to £2,317 ($3,105) from highs of around £11,458 ($15,000) towards the end of December 2017 and the beginning of January 2018.

It’s led to some likening the crash to the so-called “dot-com bubble”, which saw stocks markets rise and then rapidly fall by about 70 per cent in the early noughties.

The value of the NASDAQ Composite Index, for example, which is made up of thousands of companies, fell from highs of around £3,818 ($5,000) in March 2000 to just £1,086 ($1,423) in September 2001.

But Gary MacFarlane, a bitcoin expert at…

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