Cryptocurrency investors lose thousands of dollars, but many hope value may rise.
The value of the market has fallen by about 75 percent ($600 billion) since January 2018.
The value of the Bitcoin went from $4,353, in October 2017, to over $13,860, in December 2017. As a result, the US' largest cryptocurrency brokerage Coinbase doubled customers during the period.
However, over the course of time, several contributing factors hit cryptocurrency markets and the value of Bitcoin fell to $6,926, in March 2018, as of August 20 it was trading at $6,265. The value of the market has fallen by about 75 percent ($600 billion) since January 2018.
According to a CNBC report, an investor from the UK identified as Pete Roberts said that he invested his savings totalling $23,000 into cryptocurrencies during last winter's surge, which is now worth just $4,000. He said that his ambitions of making a quick buck led him to financial ruin.
Tony Yoo, a financial analyst based in Los Angeles, invested about $100,000 in cryptocurrency last year, the value of which declined by 70 percent at its lowest point. He is optimistic and said that many of these companies are perfecting their technology and software, roping in "serious engineers" to deliver better services to investors.
Most of these investors hold Bitcoins and had first invested in the technology in 2013 when it crossed $1,000. In spite of the recent fall, the value of a Bitcoin is around $6,500, which is over 500 percent than its price of 2013.