Bitcoin is at its lowest point ever, with its price falling by more than 75% from a peak of around $1,200 in late June.
Now the cryptocurrency is showing signs of recovery, but it’s unclear whether it can sustain this sustained drop.
The Bitcoin price is at $1.23, down more than $10 from last week’s peak of $1:1767.
At the time of writing, Bitcoin’s price has dropped to $1 around the world.
However, Bitcoin is still up about $10 since its peak on May 25, and it could fall back to $900 before its next major peak in late September, according to CoinDesk.
This price drop has also affected other cryptocurrencies, including Litecoin, which has fallen from $6,000 on May 15 to $4,500 on Tuesday.
On top of this, Litecoin has seen a drop in price from around $9.60 on May 14 to $3.50 on Tuesday, according in-game coin-trading platform CoinMarketCap.
While the Bitcoin price has remained stable over the past few days, many traders are starting to see the benefits of Bitcoin trading as its price has begun to rise.
Bitcoin is currently trading around $8,800.
Bitcoin prices are currently around $850 in China and over $1K in the U.S. and Canada, according the CoinDesk cryptocurrency price index.
The rise in Bitcoin prices has also impacted the value of Bitcoin-denominated assets, like stocks and bonds, which have also gained in value.
For example, the value on the U:BTG index of publicly traded companies increased by about $7.80 to $7,764 on Tuesday after a similar rise on May 17.
Bitcoin’s value has also continued to rise as investors take advantage of the currency’s rapid rise.
On Monday, Bitcoin surpassed $9,000 for the first time ever, according CoinMarketData, which is a market data platform.
However, it is likely that this new milestone will only be surpassed by higher Bitcoin prices.
According to CoinMarket, Bitcoin trading volumes have doubled from the previous trading peak of 9,400 transactions in May.
While this increase is welcome news, it still means that Bitcoin is not yet fully benefiting from the economic boom of 2017.