NEW YORK (CNNMoney)

Bitcoin lost more than 60% of its value last year. The digital currency has already plunged another 30% in the first few days of 2015 -- and that includes a 30% rebound on Thursday!

The price of Bitcoin (XBT) briefly fell below $200 on Wednesday, an important psychological barrier, before bouncing back.

According to Bitcoin news site Coindesk, it is not profitable for people to process transactions or mine for Bitcoins when the price falls below $200. "Mining" is the term used to describe the complex math puzzles solved by computer networks in exchange for new Bitcoins.

So what's next for Bitcoin? There is an intense debate about its future.

Bitcoin was a bubble that has burst. Jeffrey Gundlach, head of influential investment firm DoubleLine, is firmly in the Bitcoin bear camp. In a webcast on Tuesday, Gundlach declared that Bitcoin is "on its way to being relegated to the ash heap of digital currencies."

Those comments may be one of the reasons why Bitcoin plunged on Wednesday.

But is it fair to focus on Bitcoin's price as a measure of failure or success? This is a currency after all.

Related: Bitcoin was one of the tech failures of 2014

The problem is that some fans of Bitcoin seem to think that it is also something that could be a good investment.

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Will Bitcoin ever rebound? - Jan. 15, 2015