Bitcoin market cap has already dropped more than $80 billion in 2018

bitcoin stock
Vyacheslav Prokofyev/TASS/Getty Images
Bitcoin may have hit historic highs in December 2017, but just one month into the new year, investors are feeling the pinch of a major correction. Following a slight dip towards the end of last year, bitcoin has crashed hard in the weeks that followed, leading to a fall in market cap of more than $80 billion.

Although bitcoin and other cryptocurrency prices are regularly discussed in terms of individual token prices, the sheer number of tokens out there means that the entire market of any individual cryptocurrency can be worth billions. In the case of bitcoin, it was worth more than $200 billion at the start of 2018, but already that’s fallen to $143 billion at the time of writing. Other cryptocurrencies have been similarly impacted, though Ethereum has managed to remain in the black, despite similarly volatile peaks and troughs.

This should all come as no real surprise to long-term cryptocurrency evangelists, as the digital currencies have always been volatile in nature. It was only in 2017 that their value seemed only able to increase. Crashes have happened before, with this latest one spurred by a combination of mistaken reporting related to statements made by India’s finance minister, as well as Facebook’s announcement that it would no longer support ICO and cryptocurrency advertisements. As BusinessInsider points out, the subpoenas levied against major exchanges Bitfenix and Tether didn’t help either.

This latest crash is a big one, though. At the time of writing bitcoin has fallen to $8,500, its lowest figure since the end of November last year. However, despite all of the negativity surrounding the flagship cryptocurrency, many in bitcoin social circles claim that holding on to your coins is far better than panic selling.

They may have at least some good reasons to do so. Acceptance of bitcoin in various online outlets is only increasing and Twitter co-founder Jack Dorsey also announced just a few days ago that full bitcoin support with the Cash App. That should make it easier than ever for those without much understanding of bitcoin and other cryptocurrencies to buy their own.

As scary as the prospect of regulation can be, we don’t think it will have the teeth some fear it may develop in the future. With enough evangelists still touting bitcoin as “gold 2.0,” it seems unlikely to fall from relevance anytime soon, even if its latest bubble has well and truly burst.


If graphics cards don’t need it, what’s the point of PCIExpress 4?

AMD's upcoming Zen 2-based, Ryzen 3000 CPUs are backwards compatible, but they still have a new chipset, the X570, that introduces PCIE 4.0. The new standard has more bandwidth than anything needs, but it's still useful.

A dual-screen device from Microsoft is in the works. Here's what we know so far

Would you be interested in a dual-screen Surface computer? The Surface Centaurus is a Microsoft project working on just that -- and Microsoft already has a prototype. Here's all the important information on Centaurus!

Ford recalls 1.3 million Explorer and F-150 vehicles over safety issues

Ford announced multiple safety recalls on Wednesday, June 12, the largest of which affects 1.2 million Explorer SUVs over an issue with the suspension that has the potential to affect steering control.

See Spielberg’s scary horror show on your phone, but only when darkness falls

Steven Spielberg is not only writing a horror story for an app, but he also has a really fiendish idea to make it even more atmospheric: Your phone won’t let you see it until after the sun goes down.

HP's Spectre x360 is a better 2-in-1 than Microsoft's Surface Laptop 2 is a clamshell

The Microsoft Surface Laptop 2 is a refresh of Microsoft's clamshell option, an oddity given Microsoft's creation of the modern 2-in-1. The HP Spectre x360 13 is, therefore, an interesting comparison.

Amazon deal drops prices on Asus VivoBook laptops and 2-in-1s

Asus is one of the premier PC brands cranking out Windows ultrabooks today with its sleek VivoBook series, and these Amazon deals let you score one for $700 or less. Read on to find out what we love about these laptops and how you can save.
Emerging Tech

Awesome Tech You Can’t Buy Yet: Plant-based shoes and a ukulele learning aid

Check out our roundup of the best new crowdfunding projects and product announcements that hit the web this week. You may not be able to buy this stuff yet, but it sure is fun to gawk!

The best Amazon Prime Day 2019 deals: Leaked date and what you need to know

Amazon Prime Day 2019 is still a month away, but it's never too early to start preparing. We've been taking a look at the best discounts from previous Prime Days to give you our predictions of what to expect this year.

Air, Pro, or just a MacBook? Here's our guide to finding the right Apple laptop

Apple's lineup of MacBooks has started to swell, leaving fans a bit confused about which laptop they should buy. Depending on what you're looking for, we'll point you in the right direction.

Russian hackers behind ‘world’s most murderous malware’ probing U.S. power grid

A hacking group linked to the Russian government has attempted to breach the U.S. power grid. Security experts tracked the hackers, and warn that they were probing the grid for weaknesses.

15-inch laptops come with extra power, but which of these wields it better?

HP's latest "gem-cut" Spectre x360 15 adds powerful components to make it the fastest 2-in-1 we've ever tested. Can it take on the equally fast and incredibly svelte Dell XPS 15?
Emerging Tech

Facebook builds virtual homes to train A.I. agents in realistic environments

Researchers at Facebook have created Habitat, which is a platform that enables rapid training for A.I. agents. They will receive thousands of hours of training in just a few minutes in the virtual homes.

Make your games sound amazing with one of these sets of awesome gaming speakers

If you want to take your gaming sound to the next level, you need to find the best gaming speakers for your set up. Whether you're on a tight budget, want some fancy RGB lighting, or just need the best speaker set money can buy, these great…

I bought a four-year-old MacBook Pro instead of a new one. Here’s why

The new MacBook Pros have a ton of advantages over the older options, but when it came to buying a replacement machine for myself, I found myself returning to 2015 rather than picking up Apple's latest and greatest.