Bitcoin has posted records biggest one-day lost in Worldwide 2021 amid warnings that novice investors could suffer heavy losses from speculating in crypto assets such as “meme coin” dogecoin.

Bitcoin tumbled more than 11% on Sunday, dropping from about $62,000 (£45,000) to $55,000 – its lowest level since the end of March. Last week, the cryptocurrency had hit fresh record highs at nearly $65,000.

The 3 Most Important Cryptocurrencies left Bitcoin biggest one-day lost

1. Ethereum (ETH)

ETH left the Cryptocurrencies left Bitcoin biggest one-day lost

In 2021 Ethereum plans to change its consensus algorithm from proof-of-work to proof-of-stake. This move will allow Ethereum’s network to run itself with far less energy as well as improved transaction speed. Proof-of-stake allows network participants to “stake” their ether to the network.

2. Litecoin (LTC)

LTC left the Cryptocurrencies left Bitcoin biggest one-day lost Other than developers, there are a growing number of merchants who accept Litecoin. As of January 2021, Litecoin had a market cap of $10.1 billion and a per token value of $153.88, making it the sixth-largest cryptocurrency in the world.

3. Cardano (ADA)

ADA Left the Cryptocurrencies left Bitcoin biggest one-day lost Cardano aims to be the financial operating system of the world by establishing decentralized financial products similarly to Ethereum as well as providing solutions for chain interoperability, voter fraud, and legal contract tracing, among other things. As of January 2021, Cardano has a market capitalization of $9.8 billion and one ADA trades for $0.31.

The 1 biggest Country left the Cryptocurrencies left Bitcoin biggest one-day lost

1:China

Hong Kong (CNN Business)Bitcoin and other cryptocurrencies are plunging as anxiety spreads through the market — this time after China took more steps to crack down on the digital coins.

The world’s most heavily traded cryptocurrency plunged as low as $30,202 per coin from a high of nearly $44,000 in the past 24 hours, according to data from Coindesk.

Bitcoin recovered slightly following the New York stock market open and was down 15% at around $37,280.

Alongside bitcoin’s fall, several other major cryptos were down Wednesday. Ethereum plummeted below $2,000 per unit at its low before reclaiming some of its lost ground. Ether was down nearly 30% at $2,430 Wednesday morning. The meme-turned-cryptocurrency dogecoin lost nearly 26%.

Cryptocurrency Bitcoin on May 19 declined almost 30 percent to $31,000, wiping out more than $500 billion in value from the coin’s peak market value.

According to reports, another cryptocurrency Ethereum also tanked more than 40 percent.

Earlier in the day, the world’s biggest and best-known cryptocurrency — Bitcoin — fell about 9 percent to as low as $38,940.04 and slipped below a key 200-day moving average.

The other coin linked to the ethereum blockchain network Ether dropped about 15 percent to $2,875.36, reported news agency Reuters.