What is bitcoin, how does it work and what affects its price?

But bitcoin appears here to stay, at least for the time being. Although the price has fallen since the start of the year to around $7,500 (£5,800), well below its peak of $20,000, it is still above its price a year ago and interest in it continues. There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in.