Bitcoin is down 50 per cent, and that's not nearly the worst of it

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By the end of 2017 it seemed like the sky was the limit for cryptocurrency, with prices ballooning to almost unfathomable new heights.

But over the course of this year, we have seen a relatively steady overall deflation of crypto coin prices and market capitalisation.

The combined market capitalisation of the top 50 largest cryptocurrencies has dropped over $387 billion this year, a decline of over 53 per cent.

Today, 90 per cent of these top coins are worth less than they were at the start of the year.

Maybe this is how the crypto bubble ends: not with a burst, but with a whimper.

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Topics: internet-technology, markets, australia