) was the sell-off of mostcryptocurrenciesfrom January 2018. After an unprecedented boom in 2017, the price ofbitcoinfell by about 65 percent during the month from 6 January to 6 February 2018. Subsequently, nearly all other cryptocurrencies also peaked from December 2017 through January 2018, and then followed bitcoin. By September 2018, cryptocurrencies collapsed 80% from their peak in January 2018, making the 2018 cryptocurrency crash worse than theDot-com bubbles78% collapse (albeit with a vastly smaller amount of money invested).By 26 November, bitcoin also fell by over 80% from its peak, having lost almost one-third of its value in the previous week.
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The price of bitcoin in 2017 had grown to a maximum of about 2,700%, and in the same year, some cryptocurrencies had achieved far higher growth than bitcoin. Bitcoin set a record high of 19,891 US dollars on 17 December on theBitfinexexchange. Some economists, famous investors, and finance professionals warned that rapidly increasing cryptocurrency prices could create a burst of the bubble. WhenChicago Board Options Exchange(CBOE) andChicago Mercantile Exchange(CME) started listing bitcoin futures in December, that allowed mainstream investors toshortbitcoin on a large scale. The period immediately before the crash, bitcoin price reached its peak, and plunged about 46 percent, though it recovered quickly to 17,252 US dollars on 6 January 2018 on Bitfinex.
December 17, 2017: bitcoins price briefly reaches its all time high of $19,783.06.
December 22, 2017, bitcoin fell below $11,000, a fall of 45% from its peak.
January 12, 2018, Amidst rumors that South Korea could be preparing to ban trading in cryptocurrency, the price of bitcoin depreciated by 12 percent.
January 16, 2018:Bitconnectannounced it would shut down its cryptocurrency exchange and lending operation after regulators fromTexasandNorth Carolinaissued a cease and desist order against it as it was suspected of being fraudulent.
Bitconnect loses 92 percent of its value within days.
January 26, 2018,Coincheck, Japans largest cryptocurrencyOTCmarket, was hacked. 530 million US dollars of theNEMwere stolen by the hacker, and the loss was the largest ever by an incident of theft, which caused Coincheck to indefinitely suspend trading.
From 26 January to 6 February, the price of Bitcoin halved, and reached 6,000 US dollars.
Additional negative news for the cryptocurrency market continued in the first quarter of 2018.
The price remained low though the level slightly recovered in the first quarter of 2018.
March 7, 2018, CompromisedBinanceAPI keys were used to execute irregular trades.
Late March 2018,FacebookGoogle, andTwitterbanned advertisements forinitial coin offerings(ICO) and token sales.
November 15, 2018, Bitcoins market capitalization fell below $100 billion for the first time since October 2017 and the price of Bitcoin fell to $5,500.
Popken, Ben (February 2, 2018).Bitcoin loses more than half its value amid crypto crash.
Silcoff, Sean (February 13, 2018).OMERS-affiliated Ethereum Capital offering pinched, but not pulled, following choppy markets and cryptocrash.
Crypto crash: bitcoin drops to lowest point since November.
Smith, Noah (February 8, 2018).Crypto Cynics Stand to Profit the Most.
Chaparro, Frank (February 2, 2018).ROUBINI: The Mother Of All Bubbles And Biggest Bubble in Human History Comes Down Crashing
Kaplan, Michael (September 11, 2018).Bitcoin crash: This man lost his savings when cryptocurrencies plungedCNN
Patterson, Michael (September 12, 2018).Cryptos 80% Plunge Is Now Worse Than the Dot-Com Crash.
Russilillo, Steven (26 November 2018).Bitcoin Continues Steep Fall as Cryptocurrency Collapse Worsens.
Bitcoin Hits a New Record High, But Stops Short of $20,000.
Martin, Will (December 22, 2017).Bitcoin swings wildly as its price plunges.
Choudhury, Saheli Roy (January 11, 2018).South Korea is talking down the idea a cryptocurrency trading ban is imminentCNBC
Kharpal, Arjun (January 11, 2018).Over $100 billion wiped off global cryptocurrency market following talk of South Korea trading banCNBC
McKay, Tom (2018-01-17).BitConnect, Anonymously-Run Crypto Exchange, Crashes After States Issue Cease and Desists.
Kharif, Olga (2018-01-16).BitConnect Closes Exchange as States Warn of Unregulated Sales.
Swearingen, Jake (2018-01-17).The Rise and Fall of BitConnect, the Sketchiest Crypto Exchange.
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. 2018-01-17.Archivedfrom the original on 2018-01-17
Mochizuki, Takashi; Vigna, Paul (January 26, 2018).Cryptocurrency Worth $530 Million Missing From Japanese Exchange.
Russo, Camila (March 26, itter Joins Facebook, Google in Banning Crypto Coin Sale Ads.
Huang, Eustance (2018-11-14).Bitcoin market cap falls below $100 billion for first time since October 2017CNBC
The Entire Cryptocurrency SceneIncluding BitcoinIs Plummeting Again. These Might Be the Reasons Why.
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