The value of bitcoin has seen significant losses over the last week, dropping to its lowest price since October 2017. A hack on a major South Korean exchange, as well as a new study suggesting it's 2017 highs were artificially inflated, saw the world's most valuable cryptocurrency fall below $6,000 to an eight-month low.
The volatile cryptocurrency’s price has shifted wildly ever since mid-December - when it hit a record high of more than $19,850 (£14,214) - with frequent heavy drops and speedy recoveries. Its price plummet back to earth in January and February, as governments and central banks around the world raised the spectre of future regulation.
It then bounced back, before tumbling again in mid-January, recovering again, and plummeting at the start of February before levelling out for the rest of the month.
March saw bitcoin's price drop below $10,000, reaching a low of $6,500 before rebounding above $7,000.
In June, the price of bitcoin dropped even further, reaching below $6,000 before recovering in early July.
Aside from the looming prospect of regulation, a series of high-profile thefts have also had a hand in the sudden rapid dips in value bitcoin and its rivals have experienced - the most recent of which was a failed raid on the Binance cryptocurrency exchange.
Google's announcement that it would ban cryptocurrency advertising from its pages from June on the grounds that it considers it "deceptive content" was also a major blow to the sector.
Recent goings-on have demonstrated just how quickly things can change for investors.
It is worth $6,510 as of Friday morning, according to the Coinbase exchange.
Its value has fallen by 0.6 per cent since this time yesterday and is up by about 10 per cent week-on-week. Bitcoin's value is down by around 14 per cent from one month ago.
Bitcoin's rise last year meanwhile led to increasing amounts of interest in other digital currencies, such as ethereum, litecoin and ripple XRP - all of which have performed well recently - and more and more people are now looking to invest in digital currencies.
But others have speculated that it could eventually rise towards the $1m (£724,549) mark.
Bitcoin has no central bank and is not linked to or regulated by any state.
An anonymised record of every bitcoin transaction is stored on a huge public ledger known as a blockchain.
Gadget and tech news: In pictures
Show all 25
Gadget and tech news: In pictures
1/25 Gun-toting humanoid robot sent into space
Russia has launched a humanoid robot into space on a rocket bound for the International Space Station (ISS). The robot Fedor will spend 10 days aboard the ISS practising skills such as using tools to fix issues onboard. Russia's deputy prime minister Dmitry Rogozin has previously shared videos of Fedor handling and shooting guns at a firing range with deadly accuracy.
Dmitry Rogozin/Twitter
2/25 Google turns 21
Google celebrates its 21st birthday on September 27. The The search engine was founded in September 1998 by two PhD students, Larry Page and Sergey Brin, in their dormitories at California’s Stanford University. Page and Brin chose the name google as it recalled the mathematic term 'googol', meaning 10 raised to the power of 100
Google
3/25 Hexa drone lifts off
Chief engineer of LIFT aircraft Balazs Kerulo demonstrates the company's "Hexa" personal drone craft in Lago Vista, Texas on June 3 2019
Reuters
4/25 Project Scarlett to succeed Xbox One
Microsoft announced Project Scarlett, the successor to the Xbox One, at E3 2019. The company said that the new console will be 4 times as powerful as the Xbox One and is slated for a release date of Christmas 2020
Getty
5/25 First new iPod in four years
Apple has announced the new iPod Touch, the first new iPod in four years. The device will have the option of adding more storage, up to 256GB
Apple
6/25 Folding phone may flop
Samsung will cancel orders of its Galaxy Fold phone at the end of May if the phone is not then ready for sale. The $2000 folding phone has been found to break easily with review copies being recalled after backlash
PA
7/25 Charging mat non-starter
Apple has cancelled its AirPower wireless charging mat, which was slated as a way to charge numerous apple products at once
AFP/Getty
8/25 "Super league" India shoots down satellite
India has claimed status as part of a "super league" of nations after shooting down a live satellite in a test of new missile technology
EPA
9/25 5G incoming
5G wireless internet is expected to launch in 2019, with the potential to reach speeds of 50mb/s
Getty
10/25 Uber halts driverless testing after death
Uber has halted testing of driverless vehicles after a woman was killed by one of their cars in Tempe, Arizona. March 19 2018
Getty
11/25
A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
Getty
12/25
A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
Getty
13/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
14/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
15/25
The giant human-like robot bears a striking resemblance to the military robots starring in the movie 'Avatar' and is claimed as a world first by its creators from a South Korean robotic company
Jung Yeon-Je/AFP/Getty
16/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
17/25
Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi
Rex
18/25
Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi and Kaptain Rock playing one string light saber guitar perform jam session
Rex
19/25
A test line of a new energy suspension railway resembling the giant panda is seen in Chengdu, Sichuan Province, China
Reuters
20/25
A test line of a new energy suspension railway, resembling a giant panda, is seen in Chengdu, Sichuan Province, China
Reuters
21/25
A concept car by Trumpchi from GAC Group is shown at the International Automobile Exhibition in Guangzhou, China
Rex
22/25
A Mirai fuel cell vehicle by Toyota is displayed at the International Automobile Exhibition in Guangzhou, China
Reuters
23/25
A visitor tries a Nissan VR experience at the International Automobile Exhibition in Guangzhou, China
Reuters
24/25
A man looks at an exhibit entitled 'Mimus' a giant industrial robot which has been reprogrammed to interact with humans during a photocall at the new Design Museum in South Kensington, London
Getty
25/25
A new Israeli Da-Vinci unmanned aerial vehicle manufactured by Elbit Systems is displayed during the 4th International conference on Home Land Security and Cyber in the Israeli coastal city of Tel Aviv
Getty
1/25 Gun-toting humanoid robot sent into space
Russia has launched a humanoid robot into space on a rocket bound for the International Space Station (ISS). The robot Fedor will spend 10 days aboard the ISS practising skills such as using tools to fix issues onboard. Russia's deputy prime minister Dmitry Rogozin has previously shared videos of Fedor handling and shooting guns at a firing range with deadly accuracy.
Dmitry Rogozin/Twitter
2/25 Google turns 21
Google celebrates its 21st birthday on September 27. The The search engine was founded in September 1998 by two PhD students, Larry Page and Sergey Brin, in their dormitories at California’s Stanford University. Page and Brin chose the name google as it recalled the mathematic term 'googol', meaning 10 raised to the power of 100
Google
3/25 Hexa drone lifts off
Chief engineer of LIFT aircraft Balazs Kerulo demonstrates the company's "Hexa" personal drone craft in Lago Vista, Texas on June 3 2019
Reuters
4/25 Project Scarlett to succeed Xbox One
Microsoft announced Project Scarlett, the successor to the Xbox One, at E3 2019. The company said that the new console will be 4 times as powerful as the Xbox One and is slated for a release date of Christmas 2020
Getty
5/25 First new iPod in four years
Apple has announced the new iPod Touch, the first new iPod in four years. The device will have the option of adding more storage, up to 256GB
Apple
6/25 Folding phone may flop
Samsung will cancel orders of its Galaxy Fold phone at the end of May if the phone is not then ready for sale. The $2000 folding phone has been found to break easily with review copies being recalled after backlash
PA
7/25 Charging mat non-starter
Apple has cancelled its AirPower wireless charging mat, which was slated as a way to charge numerous apple products at once
AFP/Getty
8/25 "Super league" India shoots down satellite
India has claimed status as part of a "super league" of nations after shooting down a live satellite in a test of new missile technology
EPA
9/25 5G incoming
5G wireless internet is expected to launch in 2019, with the potential to reach speeds of 50mb/s
Getty
10/25 Uber halts driverless testing after death
Uber has halted testing of driverless vehicles after a woman was killed by one of their cars in Tempe, Arizona. March 19 2018
Getty
11/25
A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
Getty
12/25
A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
Getty
13/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
14/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
15/25
The giant human-like robot bears a striking resemblance to the military robots starring in the movie 'Avatar' and is claimed as a world first by its creators from a South Korean robotic company
Jung Yeon-Je/AFP/Getty
16/25
Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty
17/25
Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi
Rex
18/25
Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi and Kaptain Rock playing one string light saber guitar perform jam session
Rex
19/25
A test line of a new energy suspension railway resembling the giant panda is seen in Chengdu, Sichuan Province, China
Reuters
20/25
A test line of a new energy suspension railway, resembling a giant panda, is seen in Chengdu, Sichuan Province, China
Reuters
21/25
A concept car by Trumpchi from GAC Group is shown at the International Automobile Exhibition in Guangzhou, China
Rex
22/25
A Mirai fuel cell vehicle by Toyota is displayed at the International Automobile Exhibition in Guangzhou, China
Reuters
23/25
A visitor tries a Nissan VR experience at the International Automobile Exhibition in Guangzhou, China
Reuters
24/25
A man looks at an exhibit entitled 'Mimus' a giant industrial robot which has been reprogrammed to interact with humans during a photocall at the new Design Museum in South Kensington, London
Getty
25/25
A new Israeli Da-Vinci unmanned aerial vehicle manufactured by Elbit Systems is displayed during the 4th International conference on Home Land Security and Cyber in the Israeli coastal city of Tel Aviv
Getty
However, transactions made with the cryptocurrency are irreversible, which makes investors in bitcoin attractive targets for cybercriminals.
This article is being regularly updated to reflect bitcoin’s latest value.
We’ve teamed up with cryptocurrency trading platform eToro. Click here to get the latest Bitcoin rates and start trading. Cryptocurrencies are a highly volatile unregulated investment product. No EU investor protection. 75% of retail investor accounts lose money when trading CFDs.
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