Bitcoin slips below $14,000
Bitcoin tumbled below $14,000 briefly on the Bitstamp exchange today, down roughly 30% from its record top near $20,000 set at the start of the week.
It was last down 7% at $14,499 but fell as much as 14.7% earlier in the Asian day, Fortune reported.
The cryptocurrency, which was at about $1000 at the year’s start, had surged to a record high of $19,666 on Sunday in the lead up to exchange giant CME Group’s launch of its bitcoin futures. It has since lost about a third of its value.
Bitcoin is known to go through wild swings. In November, it tumbled almost 30% in four days from $7,888 to $5555. In September, it fell 40% from $4979 to $2972.