Dropped?
A year ago the high for the day was $6.88 per bitcoin. Today the low so far was $72.5. Sounds like an increase of $65.62 (853.78%) to me.
Perhaps you just meant since the beginning of this year (2013)? Lets see...
Jan.1 the high for the day was $13.56. Nope that's an increase of $58.94 (334.66%).
Maybe you meant the past 24 hours?
24 hours ago the exchange rate was $71.5. At the moment the rate is $78. That's in increase of 9% over 24 hours.
Perhaps you are just choosing an arbitrary time in the past when it just happened to be higher and comparing it to a lower value?
In that case, I'd say it dropped because you chose a time in the past when the exchange rate was higher.
No more arbitrary than year-to-date, one year, or 24 hours.
In case you hadn't caught it. That was the point I was making.
It's certainly lower than the running average for the past month.
Which is just as arbitrary. Those who want to believe that the price is falling choose arbitrary starting points to prove their point. It is just as possible to choose arbitrary starting points to disprove the point. How is it doing when compared to 24 hour running average?
It sounds like you're rationalizing.
As are you.