The digital currency plunged in the evening of January 28th. The plunge happened after one bitcoin company filed for bankruptcy and the District Attorney for Manhattan expressed an interest in bitcoin.


The price of bitcoin came down by $20 or 10% to $230 around 21:00 GΜT on 28 of January, reports Coindesk. The price of bitcoin in Chinese Renminbi fell by 8%. The price of one bitcoin was around 1,480 yuans for one unit of digital currency.

This time, the BTC-e exchange became the leader of the decline. Around 21:00 GMT, brokers of this trading platform sold one bitcoin just for $225.

The drastic decline in price happened after the market reacted to several negative news that had the shaken bitcoin community in the last two days. CoinTerra, a leading industrial mining company, filed a petition for bankruptcy under US Law.

Several hours later, Coinbase reported that it received special exchange license in 24 states of US. This led to a sudden rise in the price of bitcoin. This rise turned into another plunge when authorities in California and New York objected to this message and said that Coinbase did not receive any special license to work in these territories.

The present plunge is not the worst one over the last three months. In the very beginning of the year, a successful attack on the BitStamp exchange led to a sudden drop of the price of bitcoin down to $200.