The price of Bitcoin fell enormously over the weekend, and its value has continued to drop over the course of the week.
The cryptocurrency had been worth more than $7600 (~£5700) on Saturday night, according to Coinbase. By Sunday evening, it had fallen to $6700.
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It’s now worth less than $6500, a seven-month low. The last time it was worth so little was mid-November last year, just before its price exploded.
The initial price drop coincided with a hack on Coinrail, a South Korean cryptocurrency exchange.
Only around £28 million of digital tokens were stolen through the hack, but that appears to have been enough to panic Bitcoin holders.
According to CoinMarketCap, all but three of the top 100 digital currencies by market capitalisation have fallen in value over the past 24 hours.
However, as we’ve now come to learn, the situation could completely change at any point, with cryptocurrencies being so volatile.
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