Has the bubble finally burst? It's not a good time at all for Bitcoin investors. The world's largest cryptocurrency ended November down 37 percent, its worst drop since April 2011 when the cryptocurrency fell about 39 percent, according to data from CoinDesk. Last November, Bitcoin surged to its most valuable level in its history — with one BTC being worth roughly $20,000. This explosion eventually levelled off and Bitcoin's value dropped sharply, eventually setting at less than half of its peak valuation for most of 2018. However, Bitcoin hit a low of $3,878.66 Friday after starting November above the $6,300 mark. The digital currency is now down more than 70 percent since the start of 2018 and 80 percent from its all-time high hit late last year. Many are attributing the fall in value to a split that occurred in the currency last week, when an offshoot of the original currency - called Bitcoin Cash - forked into two. The fall has served to highlight the volatility of the cryptocurrency. The total value of Bitcoins in the world now stands at roughly $87bn. In the aftermath of the latest Bitcoin dip, other major cryptocurrencies, such as Ethereum, are also experiencing decreases in their value.
Many are attributing the fall in value to a split that occurred in the currency last week, when an offshoot of the original currency - called Bitcoin Cash - forked into two. The fall has served to highlight the volatility of the cryptocurrency. The total value of Bitcoins in the world now stands at roughly $87bn. In the aftermath of the latest Bitcoin dip, other major cryptocurrencies, such as Ethereum, are also experiencing decreases in their value.