Bitcoin on a downswing, hits lowest since May

Analysts say new regulations are hampering growth while industry insiders say wild swings are normal

[NEW YORK] Bitcoin's price has been known to surge, but lately it has been in a bit of a slump. On Monday, the price of bitcoin dropped nearly 12 per cent, to US$435.60 from US$492.95, according to the virtual currency website CoinDesk, its lowest value since May and far below its peak of about US$1,150 last year.


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