Bitcoin slump got worse over weekend, Bloomberg writes. Value of virtual currency fell on Sunday to $3475. This is 7,3% lower than level on Friday and 79% below peak level in December.

Cryptocurrency market collapse now can be compared with its decline by 93% in 2011 and by 84% in the period from 2013 to 2015. However, in dollar terms losses are much bigger today. Compared with its peak value cryptocurrencies lost more than $700 billion.

While optimists forecast demand increase on behalf of institutional investors, most of money managers are staying aside due to concerns about exchange security, market manipulations and regulation risks.