Cryptocurrencies had a wild year in 2018, with over $480 billion of value wiped off the entire market, according to data from Coinmarketcap. After hitting a record high in 2017, Bitcoin, the world’s largest cryptocurrency by market capitalization, fell dramatically. It was trading at $3,571 at around 11.15 a.m. London time Wednesday.
Some experts believe it could go even lower.
“I do believe it will go to zero. I think it’s a great technology but I don’t believe it’s a currency. It’s not based on anything,” Jeff Schumacher, founder of BCG Digital Ventures, said during a CNBC-hosted panel in Davos, Switzerland.
Read more at CNBC.