Bitcoin price has fallen by 50 per cent in less than a year. Why?
Nearly a year ago, bitcoin reached its highest ever price as it surged to over $US124,000 in value.
It was a stunning rise, given many thought its time had come and gone when it soared and then fell in and around 2022.
Several factors are leading to Bitcoin's fall from grace. AAP
However, it has now plummeted by more than half, falling by 19 per cent in the last month alone, according to tracking website CoinMarketCap.
The market cap or total dollar value for cryptocurrencies overall has also fallen rapidly this year, losing nearly $500 billion.
It has been a stark fall, especially given how US President Donald Trump pledged to support the crypto industry, and as parts of the technology sector are climbing.
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