At this point, bitcoin is down more than 66% from its peak of roughly $19,800 reached in December 2017, additional BPI figures show.
Now, it is time for the million-dollar question.
Since bitcoin prices have fallen so much lately, is now a good time to buy?
When polled, analysts offered measured responses, emphasizing that there are both bull and bear cases for the digital currency.
Going forward, bitcoin prices have significant upside potential.
"There is plenty of growth to come," predicted Zhang Jian, former CTO of Huobi and founder of digital assets exchange FCoin, emphasizing that the digital currency markets are still exceedingly small compared to the more traditional asset markets.
What we have now is just "a drop in the bucket," and there are "tons of waterfalls to come!"
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