Bitcoin, the biggest cryptocurrency has fallen below $8000 in value for the first time since November last year. It was trading at $20,000 in December. The massive fall in value means the poster child of crypto-currencies has lost 46 percent of its value in the last month. But with most investments, a broader outlook needs to be applied to understand the coin's true value.
Despite Bitcoin's recent plunge, the coin is still way above the value it was originally released at in 2009. Even just examining the last 12 months of performance, Bitcoin is up 2520 percent. While the coin is not at the dizzying heights it reached last December; Bitcoin is still a valuable asset to those that bought the coin in the sub 100 days. Whether the price of the coin continues to drop will depend on a number of things.
