Bitcoin Price Breaks Below $400
Bitcoin’s price falls below $400 for the first time in 2014, deepening the post-Gox bear market.
On September 23, 2014, Bitcoin’s price fell below $400, marking one of the lowest points of the year and deepening the bear market that had set in following the Mt. Gox collapse earlier in the year. After peaking at over $1,100 in late 2013, Bitcoin had been on a steady decline throughout 2014, fueled by regulatory uncertainty, exchange failures, and waning investor enthusiasm.
The drop below $400 was psychologically significant, signaling that the market was still far from recovery despite adoption milestones from major retailers like Dell and Overstock. Traders debated whether the downturn represented a natural correction after the 2013 bubble or a longer-term crisis of confidence. For long-term believers, the dip was seen as a buying opportunity, while for skeptics it reinforced the narrative that Bitcoin was too unstable to function as a reliable store of value.The September slump became part of the wider 2014–2015 bear market, remembered as one of the most grueling downturns in Bitcoin’s history.