The bubble may have burst for bitcoin and other cryptocurrencies.
The price of one bitcoin () is now hovering around $6,400. That’s a more than 50% drop in 2018 and a 66% plunge from the all-time high of just under $20,000 that bitcoin hit in late December.
“The market did go up a little too much last year and people felt it was easy to make money. Investors weren’t separating the good from the bad,” said Ben Marks, CEO and founder of Blocktrade Capital, a firm that trades cryptocurrencies. “But bitcoin is definitely here to stay.”
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