Bitcoin Prices Have Fallen 75% From All-Time High

Bitcoin prices plunged below $5,000 today, extending losses suffered earlier this month and causing the digital currency to decline 75% from its peak.

The cryptocurrency reached as little as $4,951.47, its lowest in more than one year, according to CoinDesk price data.

The world's largest digital currency by market capitalization (market cap) has been struggling through a sustained bear market, prompting countless market analysts to wonder when it will break free of this weakness.

A handful of notable events have drawn significant interest lately, specifically the bitcoin cash hard fork and the ICO market's continued difficulties.

[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Bitcoin Cash Hash War

Bitcoin cash recently underwent a hard fork, splitting into bitcoin cash ABC and bitcoin cash SV, two distinct blockchains with different rules.

Craig Wright, the self-proclaimed creator of bitcoin, threw his support behind bitcoin cash SV, and Roger Ver, another highly visible proponent of digital currency, backed bitcoin cash ABC.

"The bitcoin cash fork has left bad blood in the industry," said Charles Hayter, cofounder and CEO of digital currency data platform CryptoCompare.