In December, the price of Bitcoin reached a new record high, reaching $1,827.50 on CoinMarketCap, which is nearly $200 more than the peak price of $1.828 in March 2016.
However, as of the writing of this article, Bitcoin’s price has dropped to $1:1256.60, which means it’s still $15 below its record high price of roughly $1 for March 2016, but that’s a drop of $70, or about 15%.
Bitcoin’s decline is not limited to the crypto market, though.
While the price drop has slowed in recent weeks, it has not halted trading.
On the other hand, the number of trading days for Bitcoin has dropped from the previous month, as the price has fallen by around a third.
The drop in the price may not have much to do with the fact that the price is down, as a few weeks ago the price was hovering around $1 million, and the latest data shows that the Bitcoin price has dipped below $1 in every single week from February through September.
It’s possible that the drop in price has to do more with the recent crackdown by Chinese authorities on cryptocurrency exchanges, or that it is simply because the government has banned a lot of cryptocurrency exchanges.
It is important to note that the number and intensity of the crackdowns has been relatively light, and so the decrease in price is not necessarily a sign of a crackdown on cryptocurrency trading.
There have been a few cases of Bitcoin users being targeted for extortion by criminal syndicates, but these have generally been related to the illegal trade of other cryptocurrencies such as Ethereum and Litecoin.
The only cases involving Bitcoin have been the case of a man in China who was arrested for attempting to extort a woman from a Bitcoin mining pool.
It was not clear whether the woman would be paid for the mining work, but she was arrested anyway.