The digital currency behind blockchain technology has seen ups and downs over the course of the last seven months.
Bitcoin started off 2017 at just under $1,000, then soared to over $3,000 in May. Just this week, the cryptocurrency has seen an approximately 14 percent decline to about $2,300. Experts are saying this is the biggest five-day decrease since the beginning of the year.
Rumors that Bitcoin fans may be adopting two rival software updates at the end of this month were likely the root cause of the sudden drop in share price.
As the digital currency continues to evolve and become more popular over the next few years, it is likely that we will continue to see various changes in Bitcoin’s value. Given hints of both Bitcoin and blockchain moving into more mainstream businesses outside of the finance world, the space will likely continue to introduce new challengers that help diversify the digital currency arena.