This morning bitcoin was trading at just below £90,000, its lowest level since November, having peaked at around $105,000 at the time of President Trump’s inauguration last month.
The Trump election “bitcoin bubble” has turned into a major crash with the price of the cryptocurrency falling heavily on economic fears.
The value of the world’s biggest cryptocurrency slumped dramatically in panicked overnight trading and is now down around 6% over the last day.
Dogecoin, the currency most closely linked to Trump adviser Elon Musk was also down around 10%.
The markets have also been spooked by fears that inflation will stay higher for longer slowing down economic growth in America.
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