Cryptocurrency prices have cratered in recent weeks, erasing much of the meteoric rise recorded over the months following the election of President Donald Trump.
The price of bitcoin has plummeted by nearly a third since a recent peak in October, registering at about $86,340 on Monday. Ethereum, the second largest cryptocurrency, has plunged even further, dropping 40% since last month.
The total value of cryptocurrency – as measured by market capitalization – has dropped more than $1 trillion over that period, Jim Reid, a research strategist at Deutsche Bank, said in a memo to clients on Mon