The price of Bitcoin has fallen significantly

Bitcoin, the world's most popular virtual currency, has fallen significantly in price recently. Reports show that the price is hovering around $300, which is a 20 percent drop from just days ago, as it was getting close to $400 on Wednesday.

The New York Times reports that it is not surprising the currency is suddenly down, as its price has fluctuated a lot since it was created in 2009. The price for one Bitcoin at the end of last year reached well over $1,000 for periods of time.

While Bitcoin is often referenced as something used to purchase nefarious things, like drugs and guns, it also has legal uses. Many Bitcoin users favor the currency for its lack of transaction fees, as compared to wiring money to someone. Other Bitcoin enthusiasts enjoy the fact that Bitcoin is formed and managed by the public, as opposed to being controlled by a major government. More and more major companies are starting to accept the currency online, including: Amazon, Target, Expedia.com, Dell, Zappos and many others. Many worry about the fluctuating nature of Bitcoin's value, but companies like BitPay guarantee the value of Bitcoins will be set to the time of the transaction.