Bitcoin prices hit a two-week low on Wednesday, as the bitcoin exchange MtGoo collapsed after a huge hack.
The Bitcoin price hit a record low at $1,064.42 at around 4:30am local time, a price which was more than double the previous all-time low of $1:2,547.17 set last Thursday, the CoinDesk Bitcoin Price Index (BPI) reported.
Bitcoin has been surging in value in recent weeks after hitting a record high of $12,846.13 in early August, but its value has fallen in recent months as the number of users have grown.
Its trading volume has also been affected by MtGOO’s collapse, with the cryptocurrency’s price falling by nearly 40 percent in a week.
The BPI reported that bitcoin prices hit the record low after the MtGook website went down, with bitcoin prices falling by around 40 percent.
The cryptocurrency has gained nearly 20 percent in the past week.
On Wednesday, bitcoin futures rose as the price climbed, reaching $1.0875, up $0.16 from a low of more than $1 at $917.00.
Bitcoin futures closed higher at $2.13.