Bitcoin Price Continues to Fall, Breaks $200 Mark

The bitcoin price fell below the landmark $200 point at 07:24 (GMT) today, putting it back into territory not seen since late 2013.
Within five minutes of crossing that threshold it had plunged further to $185. Less than 15 minutes after that, it fell to $179.13.
The latter price is significant as it lies just below 1,000 Chinese yuan, the currency involved in 65%of bitcoin trades, possibly crossing a lesser-acknowledged psychological barrier.
At press time, the price had rebounded somewhat to $205.54.
Gox-like prices
The last time the bitcoin price crossed the $200 line was in late October 2013, heading in the opposite direction on its rocket-like rise to the all-time high of over $1,100.
The only time the bitcoin price has been anything like so low since then was within the walled garden of Mt Gox, after the exchange had stopped bitcoin withdrawals in February 2014. In the world outside, the price did not drop below the mid-$500s.

This post was published at Coin Desk on January 14, 2015.