According to Stan Higgins of coindesk.com, the price of bitcoin fell below $200 today for the first time since 18th January.

The plunge saw an average low of $198.23, according to the CoinDesk Bitcoin Price Index (BPI), with the largest decline taking place on BTC-e, which saw a low of $192.

The price has since recovered from those lows to roughly $203 at press time, though prices in some markets, including BTC-e, remain below $200.