Reported about 1 year ago
Bitcoin has dropped over 20% from its high of $70,000 in early June to $55,400 currently. The decline is attributed to four main factors: compensation from Mt. Gox exchange, the German government's selling of over 50,000 bitcoins, potential profit holders affected by news, and miners selling off. Experts predict the market may not fully recover until early August. Ethereum has also experienced a similar drop. The crypto market is currently quiet, reflecting the impact of Bitcoin's decline.
Source: YAHOO