In early 2021, bitcoin's price witnessed another boom, rising over 700% since March 2020,[36] and reaching above $40,000 for the first time on 7 January. On 11 January, the UK Financial Conduct Authority warned investors against lending or investments in cryptoassets, that they should be prepared "to lose all their money".[37] On 16 February, bitcoin reached $50,000 for the first time.[38] On 13 March, bitcoin surpassed $61,000 for the first time.[39] Following a smaller correction in February, bitcoin plunged from its peak above $64,000 on 14 April to below $49,000 on 23 April, representing a 23% mini-crash in less than 10 days, dipping below the March bottom trading range and wiping half a trillion dollars from the combined crypto market cap.