The price for one Bitcoin, the most valuable cryptocurrency at the moment, has taken a nosedive in the past month.

The price per BTC stood at USD 8,463 on May 14 and in the past month it fell to USD 6,523. The price reduction in one month stood at 22.9 percent.

In the past 24 hours, the Bitcoin was in the green with a 0.60 percent price increase, according to coinmarketcap.com.

According to Bloomberg, the market leader’s slump since last week coincided with a string of negative news, including the release yesterday of a study suggesting its price may have been manipulated through trading in a cryptocurrency called Tether during last year’s record surge.

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