Bitcoin and the crypto market is once again crashing hard

It’s not been a pretty year for anyone who owns Bitcoin, but the last 24 hours has been a period to forget as the cryptocurrency dropped below $100 billion in market cap for the first time in more than a year.

You have to go back to the end of October — the 29th to be precise — for the last time that the total circulation of Bitcoin in the market dropped below $100 billion.

It looks like this will be the first 24-hour period to hold that rate — so much for the relative price stability that many in the industry had complained about, be careful what you wish for!