News > Bitcoin plummets by 26%, $185 billion wiped off; Concerns of crypto bubble bust come true

Bitcoin plummets by 26%, $185 billion wiped off; Concerns of crypto bubble bust come true

Bitcoin and other digital currencies plunged to as much as 26 per cent over Sunday and Monday in the biggest two-day slide since March last year, wiping about US$185 billion in value off the cryptocurrency market.

Bitcoin has more than quadrupled in the past year, evoking memories of the 2017 mania that first made cryptocurrencies a household name for quickly approaching the record highs before ending in a violent crash.