Bitcoin is taking an absolute hammering in the media of late as its value tumbled by $44 billion in January.
The popular cryptocurrency has been hit by news of government intervention from both South Korea and India in recent weeks forcing Bitcoin into marking its steepest monthly fall.
Facebook also waded in by announcing a ban on digital currency adverts – which in all honestly is a welcomed move.
Bitcoin fell by more than 10% in January dropping below $9,000, marking a sharp reversal from its $20,000 high back in December.
However, it’s not all doom and gloom seeing that Bitcoin experienced a meteoric rise over 2017.
The latest developments will come as a particularly tough pill to swallow for investors who entered over the festive period however, long-term Bitcoin holders will be well versed in the cryptocurrency’s volatile market.