On Wednesday virtual currencies reached another record low, Bloomberg reports. MVIS CryptoCompare Digital Assets 10 Index continued its slide and is already 80% lower that peak value in January. As a result, losses exceeded those of Nasdaq Composite Index after burst of dotcom bubble in 2000, which were 78%.

As well as their predecessors during IT-companies’ boom almost twenty years ago, investors into cryptocurrencies that bet on seemingly revolutionary technology now suffer from coming reality.

Ether, the second largest digital coin, showed the biggest slump on Wednesday. It fell by 6% to $171,15. As a result, Ether already lost 40% this month. Bitcoin almost did not change. Index MVIS CryptoCompare declined by 3,8%. Value of all virtual currencies tracked by CoinMarketCap.com reduced to $187 billion.

Optimism in regards to virtual currencies prevailed in 2017 among hopes that Bitocin will become “digital gold” and digital assets will change all sectors from finance to food. However, it disappeared amid concerns about safety flaws, market manipulations, tight regulation and slower accepting by Wall Street.

The only good news in this situation is that collapse of digital currencies will have minimal influence on global economy as losses of $640 billion are nothing compared with trillion of losses in Nasdaq shares during dotcom crisis.