What's happening: Bitcoin prices have plummeted about 12% to less than $50,000 in the last 24 hours, according to Coindesk . Bitcoin's massive bull run earlier this year fed enthusiasm among investors for all kinds of coins — even those based on memes with no practical use. But if bitcoin prices have peaked for now, it could spark an exodus of speculators who were trying to make money off the frenzy. But ripple and ethereum ultimately struggled too "as retail investors rushed to the exit." That's not a bad return for those who bought in at the 2020 low of 40 cents a pop.

Source: CNN May 13, 2021 12:22 UTC