Bitcoin Price Dropped Drastically

Volatility in Bitcoin prices continued today, with the value of the cryptocurrency or digital currency falling to $13,300 at day's low on Bitstamp, a cryptocurrency exchange based in Luxembourg. Bitcoin prices have swung wildly this week. From a record high of $19,666, hit on Sunday, bitcoin prices fell over 30 per cent to hit $13,300 at day's low. However, bitcoin prices showed some recovery, rising to above $14,500. Despite the sharp fall this week, Bitcoin's price has jumped nearly 14 times this year, leading to some regulators caution the public dealing with the cryptocurrency. At 11:14 am, Bitcoin was trading at $14,257 on Bitstamp, down around 8.5 per cent.

From a Sunday high of nearly $20,000 per digital coin, Bitcoin dropped more than 22% to a price as low as $15,262 on Thursday afternoon. Some see the drop as fallout from long-unresolved problems with Bitcoin’s infrastructure, and the increasingly intense civil war it has produced in the cryptocurrency community.

Now the current bitcoin price is USD 15,139.72