
By David Stout
The price of Bitcoin dropped again this week, sliding to its lowest level since early 2013, suggesting that confidence in the contentious cryptocurrency may be shrinking.
On Tuesday, the price of Bitcoin dropped from $267 to about $224, sinking below its April 2013 value, which was before its popularity skyrocketed, according to the New York Times.
In the past year, the digital currency has been hit with myriad setbacks including market woes, fresh regulations and stagnation of usage even as transactions have increased, which in part resulted in a more than 50% drop in the price of bitcoin.
[NYT]
More Must-Reads from TIME
- Cybersecurity Experts Are Sounding the Alarm on DOGE
- Meet the 2025 Women of the Year
- The Harsh Truth About Disability Inclusion
- Why Do More Young Adults Have Cancer?
- Colman Domingo Leads With Radical Love
- How to Get Better at Doing Things Alone
- Michelle Zauner Stares Down the Darkness
Contact us at letters@time.com