--- title: Here's How Hard Bitcoin and Other Cryptocurrencies Are Crashing Right Now description: The value of Bitcoin, Ripple, Ethereum, and other cryptocurrencies are crashing. Bitcoin is down 70%, and Ripple is down more than 80%. authors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2018-02-06T14:29:32.000Z' modified: '2024-05-16T12:59:29.000Z' section: Investing tags: - Bitcoin - cryptocurrencies - Cryptocurrency - ripple - Robert Shiller - Warren Buffett word_count: 334 canonical: https://money.com/bitcoin-crash-bubble-ripple-cryptocurrencies/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Bitcoin Cryptocurrency Value Goes Down : Illustration](https://img.money.com/2018/02/bitcoincrash-in-913420710.jpg) Panic appears to be setting in for cryptocurrency investors. The price of Bitcoin, which had plunged even before this week's broader [stock market crash](https://money.com/stock-market-crashing-what-to-do/) on Monday, has fallen more than 40% in the last week. Over the past 24 hours alone, Bitcoin is down 20%. Prices dropped below $6,000 early on Tuesday, hitting a 12-week low, according to the cryptocurrency-tracking site [Coindesk.](https://www.coindesk.com/bitcoin-slumps-to-12-week-low-below-6k/) A mere 24 hours earlier, each unit of Bitcoin was trading for around $7,500. One week ago, Bitcoin was above $10,000. The all-time high in the Bitcoin market was set in mid-December, when each unit of the cryptocurrency was worth [nearly $20,000](https://money.com/there-could-be-as-many-as-200-bitcoin-billionaires-in-the-world-right-now/). Bitcoin was down 70% from that high as of early Tuesday. In other words, if you invested $1,000 in Bitcoin at its peak, it would be worth a measly $300 right now. Heck, if you invested $1,000 in Bitcoin just yesterday, you would have already lost $200 on paper. Other cryptocurrencies have also been crashing. Ripple, Cardano, and Bitcoin Cash are all down more than 20% in the past 24 hours, according to Coindesk. And this comes after a similar dip last week, when cryptos like Ripple, Ethereum, and Litecoin all fell more than 25% in a single day. Ripple, which was viewed as the [hot new digital currency](https://money.com/ripple-chris-larsen-cryptocurrency/) at the start of 2018, has suffered enormous losses over the past month. After the cryptocurrency hit an all-time high of $3.84 on January 4, it dipped to $1.16 by the [end of the month](https://www.coindesk.com/ripples-xrp-hit-worst-january-crypto-market-decline/). As of early Tuesday, each unit of Ripple was worth about $0.60. That's a decline of 83% off Ripple's peak. As we've pointed out many times, financial gurus like Yale economist Robert Shiller and billionaire investor Warren Buffett have warned against Bitcoin and other cryptocurrencies. These digital currencies have no inherent value, the say—they are worth only what the market believes they are worth. And once the market loses faith in them, as seems to be the case lately, the bubble bursts and their value crashes. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/bitcoin-crash-bubble-ripple-cryptocurrencies/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Cryptocurrency", "item": "https://money.com/cryptocurrency/" }, { "@type": "ListItem", "position": 4, "name": "Here's How Hard Bitcoin and Other Cryptocurrencies Are Crashing Right Now" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/bitcoin-crash-bubble-ripple-cryptocurrencies/#webpage", "url": "https://money.com/bitcoin-crash-bubble-ripple-cryptocurrencies/", "name": "Here's How Hard Bitcoin and Other Cryptocurrencies Are Crashing Right Now", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2018-02-06T14:29:32.000Z", "mainEntity": { "@id": "https://money.com/bitcoin-crash-bubble-ripple-cryptocurrencies/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/bitcoin-crash-bubble-ripple-cryptocurrencies/#breadcrumb" }, "dateModified": "2024-05-16T12:59:29.000Z" }, { "@type": "Article", "headline": "Here's How Hard Bitcoin and Other Cryptocurrencies Are Crashing Right Now", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2018/02/bitcoincrash-in-913420710.jpg", "width": 4828, "height": 3407, "caption": "Bitcoin Cryptocurrency Value Goes Down : Illustration" } ], "author": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "publisher": "https://money.com/#organization", "datePublished": "2018-02-06T14:29:32.000Z", "description": "The value of Bitcoin, Ripple, Ethereum, and other cryptocurrencies are crashing. 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