Bitcoin price plummets to 2-year low

The price of Bitcoin has dropped precipitously, dipping under $200 for the first time in more than a year.

The market rate for one bitcoin is now at $193, at the time of publication.

It’s a mighty fall for the once-surging cryptocurrency. Bitcoin became the toast of much of the Internet in Nov. 2013, soaring to more than $1,100 per coin, then started a slow-but-steady fall that’s lasted more than a year.

Bitcoin is infamously volatile, though in it six years of existence, it’s never experienced such a prolonged drop. Whether this is the calm before a lucrative storm—the last time the price was this low, it was right before that incredible surge—or Bitcoin finally settling at an inevitably low value is anyone’s guess.

(Disclosure: I own .46 BTC, which was worth a hair over $100 when I looked at my Bitcoin wallet this morning, but is at $99.89 as I type this sentence.)

Photo by btckeychain/Flickr (CC BY 2.0)

Kevin Collier

Kevin Collier

A former senior politics reporter for the Daily Dot, Kevin Collier focuses on privacy, cybersecurity, and issues of importance to the open internet. Since leaving the Daily Dot in March 2016, he has served as a reporter for Vocativ and a cybersecurity correspondent for BuzzFeed.