Price of Volatile Bitcoin Currency Hits 11-Month Low

[[Coi] Mr.CLuBBeR]

Bitcoin value took a tumble this past weekend

Bitcoin investors suffered through a stressful weekend as they sat helplessly and watched the value of the cryptocurrency drop to $286, the lowest it's been in about 11 months and representative of a nearly 20 percent drop. The highly volatile cryptocurrency has been consistently losing value since hitting a high of over $1,100 in December 2013, and though it's recovered a bit from its weekend dip, some fear the market is crashing.
At the time of this writing, the value of each Bitcoin is up to nearly $344. That makes for an interesting roller-coaster ride, not just for miners and speculators, but also for the several companies who started accepting Bitcoin currency in recent months. Companies running the gamut from PC builders to car dealers and even taco stands have jumped on the Bitcoin bandwagon.
"As the price is going down, some of us are under immense psychological stress," a user posted on Reddit over the weekend, according to The New York Times. "Please share how you cope with it."
It's hard to tell what prompted the recent tumble. Some have surmised that it has to do with uncertainty over potential regulations, as New York recently became the first state to propose regulations for Bitcoin companies. It's also under intense scrutiny from several U.S. government organizations, so there's a general uneasiness about Bitcoin's future.
Image Credit: Flickr (Antana)
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