Bitcoin’s Bubble Bursting

Bitcoin inched closer to mirroring Nasdaq’s 78% peak-to-trough descent after the dot-com bubble burst, according to Bloomberg. The cryptocurrency is down about 70% from its high in December. Recent hacks of coin exchanges and increasing regulation are some of the possible reasons for the decline. Bloomberg reports that lesser-known cryptocurrencies have been hit hardest with the website Dead Coins listing about 800 being worthless.

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