On January 7, the market capitalization or value of the entire cryptocurrency market hit an all-time high of $835.69 billion, according to Coinmarketcap.com, a website that takes into account the prices of over 1,000 digital coins across different exchanges.
"Concerns that Facebook is banning ads and major crypto exchanges shutting down have really silenced the hype and some people are probably having second thoughts about investing their hard-earned cash into digital currencies".
A United States man is now suing T-Mobile for a security breach that enabled hackers to access his mobile number and compromise his crypto-currency accounts to steal 2.875 Bitcoin, according to legal news service.
China and South Korea, while Japan and Australia have taken steps to tighten Bitcoin regulations.
The whole crypto market continues to struggle alongside Bitcoin, the popular alternative coins were also struggling in the market with continued drops on their prices.
That's because more lousy news arrived rather quickly.
On top of the awful crypto news, investors are also anxious about the Dow Jones Industrial Average drop. That's an 18 percent drop from the previous day.
At the time of writing, bitcoin was trading 14.83 per cent lower at $6,972.25.
However, all that optimism vanished by early Tuesday morning, when the price dipped below $6,000. The top 10 digital currencies, Bitcoin included, are trading well below yesterday's levels, with drops ranging from 16.75% for Bitcoin to 23.02% for Neo.
Both ripple and ethereum are higher than a year ago.