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After hitting all-time high, Bitcoin slides by over $1,000 in 48 hours

Despite losing almost 7 percent this week, bitcoin is still up more than 600 percent so far this year

Reuters  |  London 

Bitcoin, bitcoin

dropped below $7,000 on Friday to trade more than 5 percent down on the day, having fallen by well over $1,000 since hitting an all-time high on Wednesday.

dropped to $6,800 on the Luxembourg-based by 1200 GMT, before recovering a little to $6,870 just over 20 minutes later.

On Wednesday around 1800 GMT, it had touched $7,888 after a software upgrade planned for next week that could have split the in two was suspended.

As fell, Cash - a clone of the original that was generated from another split on Aug.1 - surged, trading up as much as 35 percent on the day at around $850, according to industry website Coinmarketcap.

Despite losing almost 7 per cent this week, is still up more than 600 per cent so far this year.

First Published: Sat, November 11 2017. 01:29 IST