It has been a great year for merchant adoption with companies like Dell, DISH, Overstock, Expedia and Tiger Direct accepting bitcoin … but it's been a rough year for bitcoin investors.
Bitcoin on Monday hit $435, its lowest level since May. It has dropped about 60 percent from its November 2013 high near $1,200.
Bitcoin investors who bought in at the end of last year or most of this year are feeling the pain. Many heard about bitcoin’s $13 to $1,200 run up last year and wanted to make some quick money. A price drop was not the result they were looking for. One Redditor likened the damage to his net worth to the Hindenburg disaster.
The lows can be attributed to the proposed New York bitcoin regulations and to margin traders.
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http://www.benzinga.com/tech/14/08/4792856/bitcoin-lows-test-cryptocurrency-investors-resolve