With the Bitcoin price dropping by a staggering amount this week, and other digital currencies suffering similar falls in value, are we reaching the end of days for the cryptocurrency bubble? Bitcoin went from a high of $19,700 during December to $9,402 on Wednesday, with the entire market suffering due to recent news stories from around the globe.

As soon as South Korean governmental officials released statements regarding tighter regulations around all cryptocurrency markets, the valuation of all digital currencies started to move in a downward spiral. Overall it led to a $200 billion drop in overall valuation in the market, but in the next 48-hours after this drop, the markets started to stabilise.

Bitcoin eventually reached a level of $11,875, and financial experts have stated that they believe it is too early to judge whether the latest volatile dip in the market is part of a longer trend where the bitcoin bubble has burst. 

In many different industries, especially within tech circles, there is a volatile beginning in the markets, but the fact that the general trend has been upwards demonstrates that cryptocurrencies are here to stay, for the time being at least. Once more global institutions start to look at tighter regulations, there might be more data to analyse with regards the long-term future of the market.