Bitcoin has lost more than 30% of its value in less than two months, according to data from CoinMarketCap.com.
The digital currency fell to $4,945 in early July, according the cryptocurrency tracker, which has a long history of tracking Bitcoin’s price.
The bitcoin price dropped to $2,947 in late July, its lowest point since February.
In a note published Monday, CoinMarketCatalyst said bitcoin’s fall was a result of a variety of factors including a sharp decline in its price in early June and a recent dip in China.
The cryptocurrency has been in a tailspin since a June 7 hack, which resulted in widespread problems for the bitcoin network.
The hack caused the Bitcoin Cash network, which is still holding a significant portion of the Bitcoin blockchain, to become dormant for several hours and resulted in the price of bitcoin plummeting as well.
The crash has caused bitcoin prices to tumble over 50% this year.
It is not yet clear how the digital currency will recover.