New Delhi: Virtual currency in the form of Bitcoin, Ether, among others registered their biggest fall ever on Wednesday when the collective cryptocurrency index by almost 80 percent.
The tumble has now surpassed the Nasdaq Composite Index’s 78 percent peak-to-trough decline after the dot-com bubble burst in 2000, according to a report by Bloomberg.
Like their predecessors during the internet-stock boom almost two decades ago, cryptocurrency investors who bet big on a seemingly revolutionary technology are suffering a painful reality check, particularly those in many secondary tokens, so-called alt-coins.
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