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Bitcoin price drops below $30,000

Credit: Belga

The price of bitcoin fell below $30,000 to $29,000 (approximately €23,828) for the first time in weeks on Thursday night.

The price of the cryptocurrency is still in danger of falling after months of rising prices.

Various media are reporting that the drop may have been due to a case of double spending, which is “where the same token is used by the same person in two transactions,” according to Bloomberg.

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Two weeks ago, Bitcoin had reached its all-time high at over $41,000 (€33,687).

Bitcoin was launched at the beginning of 2009 and was only worth a few cents at the time. By the end of 2017, its price had reached almost $20,000 (€16,433) before falling back to $4,000 (€3,286) by mid-2018.

The Brussels Times