Another day, another plunge in the digital currency market.

Bitcoin, the world’s biggest cryptocurrency by market capitalisation, shed 12.5pc in value over the 24 hour period that started Wednesday. Since then its value hovered around the $6,450 mark.

In total, Bitcoin has seen $184bn wiped from its market value since January, while other digital coins have followed. The plunge has prompted questions from investors: has the Bitcoin bubble burst, or is this simply a blip in the digital currency's value?

The recent fall marks a dramatic change in fortunes for Bitcoin. A rally in 2017 from Bitcoin and other cryptocurrencies, such as Ethereum and Litecoin, saw their values balloon to a point where a single Bitcoin was trading at approximately $20,000 per coin.

Experts say all is not lost for the sector. There remains signs of interest in Bitcoin from traditional finance, with Barclays opening an account for US cryptocurrency exchange Coinbase earlier this year.

Futures exchanges such as CME Group started allowing Bitcoin derivatives to be traded, which allowed investors the chance to bet against the currency on an established financial platform. All of this has suggested that Bitcoin could find some backing from traditional finance.