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Bank of America says bitcoin bubble is popping

  • An advertisement for Bitcoin near the Shibuya train station in Tokyo in February. Bitcoin has been a legal form of payment in Japan since April 2017.

The greatest bubble in history is popping, according to Bank of America Corp.

The cryptocurrency is tracking the downfalls of the other massive asset-price bubbles in history less than one year out from its record, analysts lead by Chief Investment Strategist Michael Hartnett wrote in a note Sunday.

The cryptocurrency has fallen more than 65 percent since peaking in December at $19,511. Bitcoin rose 2.2 percent to $6,750 today.

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