Over $100 billion wiped off global cryptocurrency market in 24 hours

Over $100 billion was wiped off of the global cryptocurrency market in 24 hours on Friday.
Concerns over tighter regulation, and worries that the bitcoin price was manipulated on a major exchange called Bitfinex by a cryptocurrency called Tether, weighed on prices.
Bitcoin, ethereum and ripple all saw their prices tank

Over $100 billion was wiped off of the global cryptocurrency market in 24 hours on Friday.
Concerns over tighter regulation, and worries that the bitcoin price was manipulated on a major exchange called Bitfinex by a cryptocurrency called Tether, weighed on prices.
Bitcoin, ethereum and ripple all saw their prices tank

Representatives for Bitfinex and Tether did not immediately respond to a CNBC request for comment.

And last week, Japanese exchange Coincheck was compromised after hackers ran off with over $500 million worth of a cryptocurrency called NEM.

Key business leaders have poured cold water over the cryptocurrency world. Investing legend Warren Buffett told CNBC in a recent interview that the sector "will come to a bad ending."

Others still see the long-term potential of bitcoin and other coins.

Fundstrat's Tom Lee, the only major Wall Street strategist to issue formal price targets on bitcoin, said two weeks ago that $9,000 is a "major low" for bitcoin and "the biggest buying opportunity in 2018."

And Kay Van-Petersen, a Saxo Bank analyst who correctly predicted the cryptocurrency's rally at the start of last year told CNBC recently that bitcoin could hit between $50,000 and $100,000 this year.

• CNBC's Evelyn Cheng contributed to this report.