NEW YORK (CNNMoney) <\/p>\n
Bitcoin lost more than 60% of its value last year. The digital currency has already plunged another 30% in the first few days of 2015 -- and that includes a 30% rebound on Thursday! <\/p>\n
The price of Bitcoin (XBT) briefly fell below $200 on Wednesday, an important psychological barrier, before bouncing back. <\/p>\n
According to Bitcoin news site Coindesk, it is not profitable for people to process transactions or mine for Bitcoins when the price falls below $200. \"Mining\" is the term used to describe the complex math puzzles solved by computer networks in exchange for new Bitcoins. <\/p>\n
So what's next for Bitcoin? There is an intense debate about its future. <\/p>\n
Bitcoin was a bubble that has burst. Jeffrey Gundlach, head of influential investment firm DoubleLine, is firmly in the Bitcoin bear camp. In a webcast on Tuesday, Gundlach declared that Bitcoin is \"on its way to being relegated to the ash heap of digital currencies.\" <\/p>\n
Those comments may be one of the reasons why Bitcoin plunged on Wednesday. <\/p>\n
But is it fair to focus on Bitcoin's price as a measure of failure or success? This is a currency after all. <\/p>\n
Related: Bitcoin was one of the tech failures of 2014 <\/p>\n
The problem is that some fans of Bitcoin seem to think that it is also something that could be a good investment. <\/p>\n
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Will Bitcoin ever rebound?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" NEW YORK (CNNMoney) Bitcoin lost more than 60% of its value last year. The digital currency has already plunged another 30% in the first few days of 2015 -- and that includes a 30% rebound on Thursday! The price of Bitcoin (XBT) briefly fell below $200 on Wednesday, an important psychological barrier, before bouncing back. Continue reading