Cryptocurrency markets are crashing early in the new year — but bitcoin investors have seen this before

pulse

January 17, 2018 5:02 PM

The cryptocurrency market has lost around half of its value since hitting an all-time high above $830 billion earlier this month. But we've seen this before.

The cryptocurrency market has lost around half of its value since hitting an all-time high above $830 billion earlier this month.
Joe DiPasquale, the founder of crypto fund of funds BitBull Capital, tells Business Insider this is a market event the crypto world has seen play out over each of the past three years.

The cryptocurrency markets are shuddering in what some are calling a "cryptocurrency bloodbath," but long-term bitcoin holders will tell you they've seen this before.

In fact, this is the third year in a row that bitcoin — and the overall market for digital coins — has plunged early in the new year, according to a blog post by Joe DiPasquale, the chief executive officer of crypto fund of funds BitBull Capital.

DiPasquale calls it "the perennial dip."

Mati Greenspan, an analyst with the trading platform eToro, told Business Insider's Oscar Williams-Grut on Tuesday that volumes from Japan and South Korea had been tailing off in recent days.

pulse