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Bitcoin slips below $14,000, down 30% from record peak of $19,666

Bitcoin's success brought cryptocurrencies to the forefront and has also boosted the profile of its rivals, which offer alternatives to bitcoin.

Reuters  |  TOKYO 

Cryptocurrency bitcoin tumbled below $14,000 briefly on the Bitstamp exchange on Friday, down roughly 30 percent from its record top near $20,000 set at the start of the week. It was last down 7 percent at $14,499 but fell as much as 14.7 percent earlier in the Asian day. The cryptocurrency, which was at about $1,000 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. "Keep in mind that bitcoin has gone up a lot this year, so ...

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First Published: Fri, December 22 2017. 12:02 IST