What happened during the 2018 cryptocurrency crash?

The 2018 cryptocurrency crash (also known as the Bitcoin crash and the Great crypto crash ) was the sell-off of most cryptocurrencies starting in January 2018. After an unprecedented boom in 2017, the price of Bitcoin fell by about 65% from 6 January to 6 February 2018.

Is the Great crypto crash of 2018 a record book?

Photo by Dan Kitwood/Getty Images The Great Crypto Crash of 2018 looks more and more like one for the record books. This advertisement has not loaded yet, but your article continues below. As virtual currencies plumbed new depths on Wednesday, the MVIS CryptoCompare Digital Assets 10 Index extended its collapse from a January high to 80 per cent.

How did crypto crash affect the crypto market?

But it was wiped out in the span of days when investors panicked and tried to pull out their money, causing a vicious, self-enforcing bank run. The crash bankrupted many investors and pulled down the entire crypto market with it: over $400 billion in value was wiped out in terms of crypto market capitalization.

How many bitcoin flash crashes in 2021?

Over the course of 2021, bitcoin's price experienced no less than six flash crashes. A cryptocurrency “flash crash” is a market event in which many holders of a particular crypto asset suddenly decide to sell, overwhelming buyers and forcing the price to fall sharply within a very short time period.