Bitcoin’s price has been known to surge, but lately it has been in a bit of a slump.

On Monday, the price of bitcoin dropped nearly 12 percent, to $435.60 from $492.95, according to the virtual currency website CoinDesk, its lowest value since May and far below its peak of about $1,150 last year.

Also on Monday, the price briefly plummeted to $309 on BTC-e, an exchange with shadowy backing, in what some in the industry called bitcoin’s version of a “flash crash.” That collapse, however, was short-lived, and the price quickly recovered to where it was trading before. The virtual currency also regained some of its lost ground to return to trading around $460 late Monday.

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