10 years ago

After reaching an all time high of $260 in April 2013, In June 2013, the price of Bitcoin plunged to around $70 per BTC. This sudden change in value caught the interest of many news organizations, and people started talking about what it meant for the future and reliability of cryptocurrencies. Around the same time, the U.S. government took control of funds from a website called Silk Road. This website was known for helping people engage in illegal activities using Bitcoin. The government's action received a lot of attention in the media, especially when the seized bitcoins were sold through an auction.