
Bitcoins are crashing, just a few weeks after reaching the biggest values in the currency’s history.
The price per Bitcoin has dropped under $500 (€363) for a while, a far cry from the $1,200 (€872) from a few weeks ago. The incredible price drop seems to indicate what economists across the world have been suspecting for months – that the Bitcoin was in a bubble. The Bitcoin bubble, like many others before it, only lasted for a few weeks and there are plenty of reasons explaining the burst and why the cryptocurrency is back to the value it had about two months ago.
The rapid rise in price put the currency on the to-do list of numerous governments who felt the need to take a formal stance towards Bitcoin. The Chinese officials said...