Is this the end for Bitcoin? Cryptocurrency has plummeted dramatically

Rich in Bitcoin? It might be time to sell, sell, sell. The virtual currency is taking a bit of a hammering, having dropped in value by almost 40% since the start of 2015.

According to Coindesk's index chart, the coin sits at a value of $187.46 US Dollars at the time of writing, down from its $1,100 value back in December 2013 - and dropping below $200 for the first time since 2013 (worth noting that it dropped around $8 in the short space of time it took to write this piece).

Furthermore, Bitcoin exchange CEX.IO has suspended its cloud mining service, claiming that the cost of mining had exceeded profits. It won't resume mining until that changes.

Some analysts predict that the bubble may be about to burst, with the value potentially set to return to the where it sat years ago.

It's certainly never been a secret that Bitcoin is volatile, but while some large sell-offs have only made things worse, it might not be the end of the road for the currency just yet.

• Seems even Google's support can't save Bitcoin

from TechRadar: All latest feeds http://ift.tt/1yjPc0C

via IFTTT