Cryptocurrency prices plummeted to a new low on Wednesday, marking an 80 percent decrease since their all-time high in January, Bloomberg reports. The MVIS CryptoCompare Digital Assets 10 Index has now dropped further than the Nasdaq Composite Index did after the dot-com crash in 2000. According to CoinMarketCap.com, the value of all cryptocurrencies totaled a 10-month low of $187 billion on Wednesday, with the second-largest cryptocurrency, Ether, dropping six percent. Due to cryptocurrencies’ loose ties to traditional financial institutions, the risk of damage to the overall global economy is slim, differing from the dot-com bust.
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