Towards the end of 2017, way back when the price of Bitcoin was going higher, our chart below comparing Bitcoin’s rally since 2015 to prior bubbles made its way across the financial world. We’ve updated the chart today to account for the 50%+ drawdown that Bitcoin has experienced from its peak.
We’ve also updated our chart of total cryptocurrency market cap going back to the start of 2017. After peaking above $800 billion in early January, cryptocurrencies have lost more than half of their value and now combine for just $400 billion. Even still, $400 billion is nothing to sneeze at. Should this asset class really burst, you’ll likely see total market cap dip down below $100 billion — which was the level the space was trading as recently as late July 2017.