On Saturday, bitcoin,the largest cryptocurrency by market value, rose 6.6% to $14,978 at 11:41 am London time, compared with 24 hours earlier, according to data on coinmarketcap.com
The cryptocurrency has risen around twentyfold since the start of the year, climbing to over $20,000 on exchanges
The biggest and best-known cryptocurrency had seen a staggering twentyfold increase since the start of the year
In the futures market, bitcoin one-month futures on Cboe Global Markets were halted due to the steep price drop
Bitcoin was first mined in 2009, following a paper by Satoshi Nakamoto on peer-to-peer money transactions
Taxman and ED are currently pondering upon whether Bitcoin should be treated as a currency or as a commodity
Bitcoin loses a third of value in just five days as bitcoin moves known to be big and volatile
Bitcoin's success brought cryptocurrencies to the forefront and has also boosted the profile of its rivals, which offer alternatives to bitcoin.