The price started downfall on Wednesday, March 18th at about 07.30 GMT and reached the minimum point of $254.39 at 23.59 GMT, according to the Coindesk bitcoin price index. 

The industry was expecting rise of bitcoin price up to $300 for some time. These expectations were related to the end of the third U.S. Marshals auction on Thursday, March 5th. The winners were to be revealed the following Monday. The price went up from $246 on March 1st to $295 on March 11th almost hitting a month-high of $300. 

At the moment only one of the three winners of the auction has been confirmed while the other two remain unknown. Some assumptions have been made on the alleged identity of one of them.

Earlier today, the UK Treasury issued an official response to the call for information on digital currencies. According to the document, there are still “clear barriers to digital currencies achieving widespread use in their current form”.

A sudden rise of bitcoin price by 8% was recorded on Friday, February 27th when it rocketed from $236.54 to $251.59 in about half an hour. The dramatic increase came several days after the Bank of England published a research report on digital currencies, which looked into the possibilities of developing alternative forms of money by central banks. The report was welcomed by the UK Chancellor of the Exchequer and Second Lord of the Treasury, George Osborne.