Bitcoin value has dropped by 12 percent down to US $435.60 which is the lowest rate since May. While many have started to panic due to a high drop of the crypto-currency, but analyst suggest that it is a temporary fall and the currency should rebound soon.

The Bitcoin crypto-currency started its trading on Monday at almost US $500, but dropped down from US $492.95 down to US $435.60. Some transactions were even done at US $309 while major of them were anywhere between US $309 and US $400.

"We have seen crashes like this before and they follow a certain pattern, namely a sharp drop followed by a swift rebound to about a bit less than the previous level," said Raffael Danielli, Matlab Trading margin trading critic, in a statement to CoinDesk.

Bitcoin and other crypto-currency have become quite popular lately and it is not a surprise that such a heavy fall has rang some alarms.



Source: via Tweaktown.com.