Experts are citing various reasons for the massive drop in BTC's value this year.
There are the issues of regulatory concerns, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry.
However, Bitcoin and other cryptocurrencies have seen a sharp drop since South Korean cryptocurrency exchange Coinrail was hacked over the weekend.
Coinrail, which is thought to have lost around £28m in the cyber attack.
This latest attack highlights the lack of cyber security and weak global regulations of crypto markets.