Is this the day of reckoning for bitcoin and other cryptocurrencies? MarketWatch asks the question.

The price of a single bitcoin was recently around $10,791 after tumbling as low as $10,064 on Tuesday, a big drop from Monday’s peak above $14,000. The fall is part a broad selloff among the world’s virtual currencies blamed in part on nagging fears of increased regulatory scrutiny in South Korea and elsewhere. That leaves the total value of cryptos tracked by CoinMarketCap.com at roughly $520bn, down sharply from last week’s peak above $800bn.