http://mashable.com/2015/01/26/coinbase-bitcoin-exchange/The price decline was part of a longer-term slump that had dragged bitcoin down from its frothy $1,000-plus highs after the implosion of Mt. Gox, once the largest Bitcoin exchange in the world, and more recently a security issue at Bitstamp, another exchange.
Some Bitcoin mining services, which make money by unlocking new bitcoins, were forced to suspend operations due to the declining prices presumably cutting into profit margins, raising further concerns about whether there would be a snowball effect for Bitcoin. Yet, investors continue to pump money into the space, with Coinbase recently raising a $75 million round and Ripple, an open payments network similar to bitcoin, is reportedly raising $30 million.
