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Bitcoin Rate at Mt. Gox Falls Below $500

Avatar Jayanand Sagar 5 years ago

Mt.Gox BTC Rate 13 FEB 14

Proof of how quickly things change in the world of bitcoin, the very exchange seemingly most of the community was quoting (at over $1200) late last year is the same exchange to fall below the $500 mark.

As of this writing, the bitcoin rate at Mt. Gox is about $484, with a day low of $480 — the lowest it’s been this year. That comes in as a 44 percent price drop in the last 30 days, according to chart data.

The decrease in value of bitcoin at Mt. Gox stems from the recent halt of withdrawals, and some reports suggest that Gox customers are even selling their bitcoins stored on the exchange at discounted rates.

Meanwhile at Bitstamp (which has also halted withdrawals), bitcoin is trading at $645, 20 percent less than it was a month ago.

This morning, Mt. Gox CEO Mark Karpeles responded to those criticizing both him and his exchange for what’s been going in the past few days.

Where do you see the price going from here?

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