Almost exactly one year after rising above $90,000 for the fist time in its history, bitcoin has fallen back to that level after suffering a severe price crash.

A record-breaking rally took the cryptocurrency to a new all-time high above $125,000 last month, with some market analysts fearing the sudden drop could be the beginning of a more sustained bear market .

Bitcoin was trading below $90,000 on Tuesday morning, marking a 25 per cent decrease over the last six weeks. Previous price cycles have seen bitcoin lose around 75 per cent of its value after hitting a record high.

“Bitcoin’s pullback below $100,000 may unsettle short-term traders or those newer to the asset class,” Gadi Chait, an investment manager at Xapo Bank, told The Independent . “Those who have been in the space f

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