If the story of bitcoin in 2013 was its meteoric rise in price, which saw it hit a peak of over $1,100 in November, then the tale of bitcoin's price this year is one of plummeting from those heights.
The price of bitcoin opened the year at $770, according to the CoinDesk Price Index. By mid-December, it was trading in the mid-$300 range. This represents a drop of more than 50% from the start of the year.
However, it's worth noting that bitcoin is still trading comfortably above its price for much of last year. Indeed, it is changing hands for more than three times the amount it was trading at during the highs of April 2013, before its historic bull run.
Over the past 12 months, the price has been buffeted by a diverse array of factors, ranging from adoption by payments giant PayPal and technology goliath Microsoft to the massive sell-order from the 'BearWhale' and rumoured clampdowns by the Chinese authorities.
The interactive price chart below, based on the CoinDesk BPI, retraces the highs and lows of bitcoin's price as it struggles to find its feet after an incredible year.
For a larger version of the chart, click here.
The price of bitcoin opened the year at $770, according to the CoinDesk Price Index . By mid-December, it was trading in the mid-$300 range. This represents a drop of more than 50% from the start of the year.
However, it’s worth noting that […]
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