Since November, Bitcoin - the most popular cryptocurrency - has lost more than 50% of its value.
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Concerns regarding the legitimacy of cryptocurrencies such as Bitcoin have grown. Many well-known people have expressed their reservations regarding digital currency. Cryptocurrencies are "based on nothing," according to European Central Bank President Christine Lagarde, and should be regulated to protect people from staking their life savings on them. Earlier this week, the Bank of England's deputy governor suggested that some regular individuals who had invested in digital currencies were likely unaware of what they had bought or the risks involved.