Bitcoin investors have learnt a shock explanation behind one major price change

Bitcoin price news continues to be disheartening for investors, with the cryptocurrency once again dropping in value today.

The value of Bitcoin fell below the $8,000 marker today for the first time since November 24 last year.

It’s a far cry from December 2017, when Bitcoin price records were broken as it reached almost as high as $20,000.

Despite the fluctuating Bitcoin price, experts are predicting that the cryptocurrency could hit the $50,000 marker this year.

Amid these highs and lows, a shock study has emerged which has given an explanation for one massive price rise Bitcoin experienced.

Back in 2013, Bitcoin rose from $150 to $1,000 within the space of just two months.

It was a landmark moment for the cryptocurrency - and researchers now believe this price surge was sparked by one person.

Their paper, ‘Price Manipulation in the Bitcoin Ecosystem’, explains that one bad actor was likely behind the huge Bitcoin price surge.

In the study researchers Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman explained how suspicious activity impacted Bitcoin’s price in 2013.