Other cryptocurrencies also fell sharply, with Ethereum's ether losing 10 percent and Ripple's XRP down 13 percent in a largely sentiment-driven slide.
As of 0250 GMT, the original cryptocurrency was down to $4,848, after breaching the landmark for the first time since October 12, 2017.
The India figure may be higher as the data collected by Dappros is mainly based on information from open sources such as LinkedIn. It does not account for developers whose social network profiles are not accessible.
Bitcoin's weakness spread to other cryptocurrencies, with ethereum, the second-largest, dropping to a two-month low.
In the last 10 years, we have seen several kinds of bitcoins being launched. Not surprisingly, it has divided the monetary economics community.
The firm said Combinator Continuity, Wellington Management, Andreessen Horowitz and Polychain invested in the latest round
In a bid to bypass RBI's April 6 diktat to banks on freezing the accounts of cryptocurrency exchanges, Unocoin had recently unveiled a bitcoin ATM in Bengaluru
The ATM kiosk was installed last week aiming to bypass the Reserve Bank of India ban on banks from dealing with cryptocurrency firms
Using the ATM, Unicoin users can deposit and withdraw cash in legal currency from their respective Unocoin account. The company said it will open more such kiosks in Mumbai and Delhi in a couple of weeks
In September, the Ahmedabad-based company tweeted that it was freezing exchange services, cancelling unexecuted orders, and crediting funds to customers’ wallets
Sakshi Batra gets in conversation with Gaurav Choudhury, Deputy Executive Editor, Moneycontrol for all the update on government’s plan of action on cryptocurrencies.
The report, which looks at criminal activity and money laundering in the digital currency market, also showed a steadily growing number of smaller thefts in the $20-60 million range
In ICOs, companies issue cryptocurrency tokens to investors, in much the same way as they issue shares in an initial public offer of equity
In April, the RBI banned banks from providing financial services to any individual and/or business dealing in cryptocurrency
Novogratz said that the current slump is due to "institutions moving in".
Regulated crypto exchanges will be allowed to purchase adverts through Google’s platform in US and Japan from next month.
The body said that the token sales would instead be ‘restructured,’ indicating it would be open to future offerings
Japan's crypto exchanges have been under close regulatory scrutiny after the theft of $530 million in digital coins at Tokyo-based cryptocurrency exchange Coincheck Inc.
The new product will allow banks and payment providers the ability to process cross-border transactions faster
Interestingly, despite nearly 70 percent drop in bitcoin’s value from its all-time high achieved in December, the hash rate of Bitcoin network has increased four-fold from December level
In a fresh spin, these chocolate currencies called Frankford Bitcoins are 1.42 ounces of milk chocolate wrapped in gold-coloured foil and manufactured by Frankford Candy
The report also highlighted how terrorist groups also have had limited success when it comes to raising funds using technology.
The offshore exchanges have managed to get around the government’s ban by frequently changing their domain names to avoid detection.
However, foreign exchanges would get a license for a cryptocurrency exchange only after they open a subsidiary in Uzbekistan.
The patent outlines a plan to develop a network of computers capable of generating accounts for storing cryptocurrencies or cryptocurrency-related exchange-traded products