Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

By Brad Tuttle
June 25, 2018
Just_Super—Getty Images/iStockphoto

The price of Bitcoin dropped to $5,755 on Sunday afternoon. That marks the lowest point for the cryptocurrency so far in 2018, dipping below the year’s previous low of $5,967, hit on February 6.

The last time a unit of Bitcoin was worth less than $5,800, it was November 2017, according to CoinDesk.

The Bitcoin crash of 2018 comes half a year after many cryptocurrencies skyrocketed in value. At its peak last December, Bitcoin was trading as high as $19,783.

To do some very simple math: If you had bought one unit of Bitcoin way back in early February 2017, when it was worth around $1,000, that investment would have been worth over $19,000 toward the end of last year.

On the other hand, what if you jumped into the cryptocurrency craze late and purchased Bitcoin at the peak?

If you bought Bitcoin on December 17, 2017, when it was worth roughly $19,000, you would be down roughly 70% today, when the price of Bitcoin is about $6,000. In other words, if you bought $1,000 worth of Bitcoin at the peak, it would be worth around $300 right now.

Well-respected financial minds like billionaire philanthropist Warren Buffett and Nobel-winning economist Robert Shiller have offered sharp criticisms of Bitcoin and other cryptocurrencies. They’ve all essentially said cryptocurrencies are speculative bubbles that are bound to pop.

At last check on Monday morning, Bitcoin had dropped off its sub-$6,000 low, and Bitcoin prices were around $6,200.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

EDIT POST