The price dropped around midnight on Tuesday, reaching the bottom point of $241.57 around 04:00 GMT

Currently, the price of bitcoin is around $241. In the last 24 hours alone, bitcoin lost 7% of its price. Some people are using this moment to buy digital currency - brokers on the BTC-e exchange started to buy bitcoins en masse around 04:30 GMT.

The current price drop is the second major drop in two weeks. The digital currency plummeted on January 3 and gained value back by January 7.  

Several experts consider the current fall of the price to be logical. NASDAQ columnist Martin Tiller said in the beginning of January that the fall in the price of bitcoin may mean the end of the bitcoin bubble.

“The drop doesn’t necessarily represent a crisis in Bitcoin; it may just be part of the return to fair value. With the level of acceptance increasing at such a fast rate, however, if
Bitcoin is to retain credibility in the short term some degree of stability is needed at around these levels”, noted Tillier.

The low price of bitcoin has forced several companies to limit or stop their services., a notable mining pool, has stopped operations due to the low price of digital currency.