CNN: Bitcoin crash

People who have invested in cryptocurrencies have lost an estimated $400 billion since January this year, according to CNN article. Michel Rauchs, Cryptocurrency and Blockchain Lead at the Cambridge Centre for Alternative Finance, says that bitcoin and other cryptocurrencies have attracted a lot of inexperienced investors as a result of huge rise in value: “Retail investors, students, housewives, even grandma was driven in by the hype. They were told by the media that this was an opportunity of a lifetime. They bought at the top and are now sitting on heavy losses.”

Read the full article [money.cnn.com]