The Bitcoin Price Is Down 50% This Year Alone -- Here's Why

The Bitcoin price has today dropped 12%, taking its year-to-date losses

to an eye-watering 50%, after South Korean exchange Coinrail

warned users it’s reviewing its system due to a hacking attempt.

Meanwhile, rival cryptocurrencies Ethereum and

Ripple are both down over 10% today.

The latest blow comes as the Bitcoin price struggles to find a floor

amid regulatory concerns, dwindling transactions, sky-high power consumption,

and criticism from the world's established financial industry.

However, Bitcoin holders aren't broke yet — overall,

the Bitcoin price is up over 100% on this time last year when

it was trading for less than $3,000.

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