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April 10, 2014 AT 1:53 PM
Bitcoin reached another milestone today, with the crypto currency falling below the $400 per-coin mark. The price correction was driven by news from China and the rumors of a government crackdown on the currency in the country. According to Bitcoin Average, the average price of bitcoin is currently around $388, down from a 52-week high of roughly $1,132. Coinbase has the current price of bitcoin at around $394, down from a peak of $1,126.