The world's most popular cryptocurrency has recorded its worst first quarter ever since it started trading regularly in 2010.
Bitcoin lost more than half its value since the beginning of this year - from $13,412 on January 1 to $6685 on April 1.
The previous biggest decline was a 38 percent fall in the price in Q1 of 2014, according to data from CoinDesk.
Bitcoin suffered massive loss in market capitalisation in the first quarter of 2018.
The market capitalization of bitcoin was approximately $236 billion at the start of January, and fell to $115 billion by March 31.
The bleak picture comes after a stellar 2017 that saw Bitcoin rise more than 2000 percent in a bubble like flare up, and hitting a peak of $19,535 in December.
The biggest price rise in the first quarter for Bitcoin was a 599 percent surge in 2013.
Bitcoin is so volatile that predictions show an epic battle between bulls and bears wherein it could easily lose half of its value from current levels or reach past its record prices.
While the head of Goldman Sachs' research unit predicted that most cryptocurrencies would be gone in the next five to ten years, some analysts at banks claim Bitcoin would eventually hit $320,000.
Bitcoin has generally been going through a rough patch in 2018, with multiple reasons contributing to its downward trend. Tougher regulatory scrutiny was the main factor.
It lost its value following news that Google and Facebook banned cryptocurrency-related advertisements on its platform.
The EU on Friday slashed leverage limits on cryptocurrency trading by retail investors, sending Bitcoin below $6,000 at one point.
On the other side, Bitcoin also came in for praise, as Twitter CEO Jack Dorsey saying Bitcoin will become the global currency for payments after overtaking the dollar's dominant place within a decade, but they were not enough to lift the softcoin back to its higher levels.
The broader cryptocurrency market has mirrored Bitcoin's plunge, with the total value of all cryptocurrencies plummeting from $618 billion to below $300 billion. The top ten cryptocurrencies by market cap suffered Q1 losses ranging from 24.9 percent to 77.7 percent.
Indications are that the cryptocurrency euphoria has started to fade, and there is not much to expect that Bitcoin will fare any better in Q2.
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