Cryptocurrencies Down 23% for July. Is This the Bottom?

The great digital currency bull run of 2017 came to a screeching halt in early June. Shortly after hitting all-time highs—bitcoin broke $3,000 and Ethereum nudged $400—the party ended, and cryptocurrencies of all stripes plunged.

Now, almost two weeks into July, the picture is even less pretty as most types of digital money are firmly in bear territory.
How bad is it? Alex Sunnarborg, a researcher at Coindesk, tweeted a helpful chart that shows the respective declines for bitcoin and other currencies since the start of the month.