Bitcoin crashed over the weekend to below $34,000, having hit a new all-time high last week above $42,000.
The latest price remains way up when put in context with recent weeks and months, with the price rising steadily over the last nine months from below $5,000 last March.
Other major cryptocurrencies, including ethereum (ether), litecoin and bitcoin cash have also experienced massive gains in recent months, with some analysts predicting that this may be still only the early stages of a major bull run.
The last major bull run in 2017 saw bitcoin’s price rise from a few thousand dollars to around $20,000, however it was followed by a painful correction.
The notoriously volatile market is prone to sudden movements, as was demonstrated earlier this week when bitcoin fell by around $6,000 in the space of just a few hours.
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