Why Is Bitcoin Down Almost 40% From Its High?

The price of Bitcoin (CRYPTO: BTC) has fallen roughly 37% from its all-time high as of this writing. And that's about how much it was down when Fool contributors Jon Quast and Travis Hoium discussed it in this video for Motley Fool Backstage Pass, recorded on Jan. 6.

What's driving the drop with Bitcoin? Surprisingly, cryptocurrencies are behaving more like growth stocks than hedges against inflation. In the short term, this could continue. That's why it's important for long-term investors to focus on the underlying technologies being built in the cryptocurrency industry.

Source Fool.com