Update 1: China’s biggest Bitcoin exchange confirmed that it is no longer accepting deposits in yuan, the Guardian reports.

Update 2: The popular US-based Bitcoin company, Coinbase, shows prices at a new recent low of around $500. The original story, with background on the crash follows below.

Remember the giddy highs of $1000 Bitcoin? That’s so two weeks ago. Lately, the virtual currency is in the midst of another of its famous crashes — or swoons if you prefer — as bad news trickles in from overseas.

Here’s a chart, via Bitstamp, that shows the latest price tumble. The currency reached a new record high of around $1,132 on December 5th but has since lost nearly half its value:

After falling to lows of around $650 this week (it’s hard to pinpoint an exact price as rates vary significantly between various exchanges), the currency is…