Bitcoin is crashing all over again, and it is taking the smaller crypto currencies down with it. It has fallen by a quarter from its highs, and there is little sign that the relentless selling is going to stop anytime soon. Plenty of people will be reheating arguments about how the digital currency is completely worthless and that the bubble was always going to pop one day. But Bitcoin has been through plenty of bear markets and it has always bounced back – and there is little reason to believe this crash will be any different.

It is certainly a substantial fall. From a high of $114,000 (£87,300) a coin at the end of last month it has fallen all the........

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