How Bitcoin’s Crash Compares to History’s Biggest Bubbles

Bitcoin’s latest plunge gives investors reason to weigh how it compares with some of history’s greatest asset bubbles.

22 Nov 2018, 11:02 AM IST

How Bitcoin’s Crash Compares to History’s Biggest Bubbles

A pile of coins representing Bitcoin cryptocurrency sit grouped together in the U.K. (Photographer: Chris Ratcliffe/Bloomberg)

(Bloomberg) -- Bitcoin’s latest plunge gives investors reason to weigh how it compares with some of history’s greatest asset bubbles. After an almost 60-fold increase in three years to nearly $20,000, the world’s biggest digital coin has now tumbled more than 75 percent from its peak, according to data compiled by Bloomberg. By comparison, the Nasdaq Composite Index posted a 78 percent peak-to-trough decline after the dot-com bubble burst in 2000.

To contact the reporters on this story: Eric Lam in Hong Kong at elam87@bloomberg.net;Mathieu Benhamou in New York at mbenhamou4@bloomberg.net;Adrian Leung in Hong Kong at aleung206@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Todd White, Matt Turner