If you’ve had your eyes glued to the charts, you’ve noticed that the bitcoin price has been going anywhere but the moon lately.
This morning, I’m observing $513 per bitcoin at the Bitstamp exchange, a few points up from the thirty-day low we saw in the past twelve hours, which hit a bottom of $503 per bitcoin.
Obviously, such movement has prompted many in the bitcoin community to discuss, exchanging ideas as to why the price has declined over 17 percent in the past month.
It’s during these times that traders begin to panic, further bringing the price down, but many are still hopeful we’ll see price spikes the likes of which we encountered last year.
In case you’re new to the community, in April 2013 we saw a rise in the price from double-digits to over $200. It was at this point that bitcoin caught the attention of mainstream media.
Later in November, as the Chinese were becoming delightfully aware of this digital currency, the price spiked past $1,000 in an amazing show of just how far bitcoin has come.
Now, I’ve told you all this, and I’ll say it again: I’m not a markets expert. So I’m certainly not going to give you a rundown of why and how the price is so low.
My main point in writing this, however, is to perhaps start a conversation in the comments below. What do you attribute this price decline to? Are you feeling optimistic at all? Chime in!