News
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2014-10-07T11:18:56Z
Bitcoin’s price is dropping, and no one has a clear explanation for why. After dropping to an all-time low of about $181 over the weekend, the value of Bitcoin has improved to about $330 – still well below the highs the digital currency once enjoyed. Theories for the recent drop abound, but few experts are finding an explanation on which they can agree.

Bitcoin is getting attention for its recent lows, but the digital currency has also had stunning highs.

Bitcoin enthusiast Roger Ver is defending the digital currency.

If you are a long-time bitcoin investor, you’ve been on quite a ride. The digital currency reached a peak of $1,150 in December of last year and retailers like Dell have been rushing to accept it. But Bitcoin has had a volatile several months since. The most recent drop puts it at an 11-month low. Speculative trading is being blamed by some, while others are concerned that the new bitcoins being rewarded to bitcoin miners are affecting the value of the digital currency. And, of course, some bitcoin users see the news of bitcoin’s recent woes as a blip that should be ignored by long-term investors. Where one stands on the issue often seems to depend on when they became involved in bitcoins: people who bought into bitcoin in recent months are feeling the pinch.
sevags
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2014-10-07T13:06:19Z

Maybe it is being the pool of available bitcoins is nearly dried up and what is still left out there takes much, much longer to mine. The excitement over the currency really came from the fact that you could mine the currency and watch it go up in value. If the pool is drying out there is only so much currency to go around. At the limited amount of coins bitcoin can have available it isn't enough to sustain its use indefinitely.

ShannonDianneDaves
2014-10-07T14:19:19Z

Um.....maybe it's because Bitcoins were created with a maximum number of coins possible and most of them are now on the market or sitting in wallets?? The only way for the value to go is down from here.

NickModrowski
2014-10-07T14:19:20Z

That, and they were sought after as a tax haven and volatile investment that had up and down swings. Now that a lot of countries are recognizing it as a currency, it's just going to be another form of taxable income.

AndrewFort
2014-10-07T14:19:21Z

Another reason to avoid this ridiculous fad.

CraigSchmall
2014-10-07T14:19:22Z

Alex Jones Reuben Perry hahahahahahaha

AlexJones1
2014-10-07T14:19:23Z

Oh Boo [censored]QQ lol

ReubenPerry
2014-10-07T14:19:24Z

Lol retribution! Maybe vid card prices will go down now?

DavidKreal
2014-10-07T17:39:12Z

I'm gonna out and admit that I've never quite understood this whole Bitcoin thing...and seeing how volatile it's become, I'm glad I never really understood it lol.

StaticFX
2014-10-07T21:43:53Z

im with you ... I know lots of places are backing it, I just dont see how its practical when someone could steal huge amounts by hacking.

DanielLucas
2014-10-09T06:36:48Z

yeeaa like it was only Bitcoin. The Dow Jones plummeted 273 points yesterday, and all other markets followed suits. They also bounced back reasonable well today.