Bitcoin Dips Below $200, a Sign of Things to Come?

Bitcoin has crashed to below $200 levels. Should the cryptocurrency community be worried, or is there hope for better things in the long term?

Earlier this week, the BTC to US dollar exchange rate dipped below $200, a level unprecedented since the value of the cryptocurrency rose past $1,000 as an effect of its popularity as a fast and cheap means of online fund exchange. By January 15, the BTC:USD exchange was at about $170, thereafter hovering to around $200.
This is about an 82% drop in value since the currency’s peak of $1,130 in 2014, and about 76% drop in value since the same time in January 2014, during which BTC was at $850. Just mid-Devember, Bitcoin was trading at about $350, however, which means the drop was not as drastic month-on-month.
Bitcoin is sensitive to both positive and negative news about cryptocurrencies, and this drop has coincided with the opening statements of the criminal case against Ross Ulbricht, the alleged founder behind dark website Silk Road. In the same case, Mt. Gox founder Mark Karpeles has been implicated as having possible links to being Silk Road’s “Dread Pirate Roberts”.
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