New York (CNN Business) The recent plunge in the stock market is a cakewalk compared to what's going on with cryptocurrencies. Bitcoin prices are down more than 15% in just the past week and have plummeted nearly 70% so far this year.

Bitcoin hit a peak above $19,000 in December 2017. Its is now trading at around $4,600.

Shares of companies with ties to the crypto market have plunged lately too, including chipmakers Nvidia ( NVDA ) and AMD ( AMD ), which make graphics cards used by bitcoin miners. Online retailer turned blockchain investor Overstock ( OSTK ) and digital payments firm Square ( SQ ) are also sharply lower. Each stock is down between 15% and 35% in just the past month.

So it seems safe to say that the bitcoin bubble has burst. Should investors start to dip their toe back in to bitcoin and other crypyto-related assets?

Perhaps. Some bitcoin bulls are welcoming the recent volatility. It may be scaring away some of the momentum investors who rushed in, which means that bargain hunters can scoop up bitcoin at a more attractive price.

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