If the tale of bitcoin in 2013 was its meteoric rise in price, which observed it hit a peak of over $1,100 in November, then the tale of bitcoin’s price this yr is one of plummeting from these heights.
The price of bitcoin opened the yr at $770, in accordance to the CoinDesk Rate Index. By mid-December, it was buying and selling in the mid-$300 vary. This represents a fall of much more than 50% from the start of the yr.
However, it can be worthy of noting that bitcoin is nonetheless buying and selling comfortably above its price for much of last yr. In truth, it is changing arms for much more than 3 occasions the volume it was buying and selling at during the highs of April 2013, ahead of its historic bull run.
Over the past 12 months, the price has been buffeted by a diverse array of elements, ranging from adoption by payments huge PayPal and technological know-how goliath Microsoft to the huge offer-order from the ‘BearWhale’ and rumoured clampdowns by the Chinese authorities.
The interactive price chart down below, dependent on the CoinDesk BPI, retraces the highs and lows of bitcoin’s price as it struggles to come across its feet right after an amazing yr.
For a bigger edition of the chart, click here.