PV module prices have dropped 70% since 2008, when the financial crisis sent demand tumbling, with Chinese multicrystalline silicon module prices currently as low as $1.49 per watt, according to Bloomberg New Energy Finance's (BNEF) Solar Spot Survey. In part, this was an example of "the Bubble giveth, and the Bubble taketh away." For the three to four years ending in 2008, the long-term downtrend of PV prices, which had been driven by the learning curve and imporving technology, stalled due to strong demand. Then, when the financial crisis suddenly removed the availability of cheap financing, demand vanished, and prices plummeted.