Cryptocurrencies appear to be in freefall, with Bitcoin falling below the $8,000 for the first time since its meteoric rise last year.
Bitcoin passed $7,947 on 19 November on its way to a high of $19,791 less than a month later on 17 December.
The cryptocurrency bubble appears to be bursting, however, with prices steadily falling as governments around the world crack down on cryptocurrency exchanges.
According to specialist website coinmarketcap.com, all major digital currencies are down anywhere between up to 35% on the day in a big sell-off.
Etherium down 32%
Bitcoin is now trading at $7,826, down 17% on the day, reducing its market cap to $7.98bn (12:45pm GMT).
Other digital currencies have also been hit. Etherium, the second biggest by market capitalisation, is down 32% at $760, having reached a high of $1,416 on 13 January.