One wealth manager said technical chart analysis was predicting deeper falls
The bank will trade in bitcoin if it becomes more established, he added
One market-watcher attributed the fall to outages in bitcoin exchanges and the heavy price surge of recent times
The cryptocurrency shows wild swings since Wednesday - within hours of crossing the $11,000-mark, plunges nearly 20% to $9,009 in less than 90 minutes, and then rises again to trade above $10,000
Cryptocurrencies are decentralised, meaning that they are issued without a central administering authority
Bitcoin's rapid ascent has led to countless warnings that it has reached bubble territory
Some on Wall Street are embracing the run, with more than 100 hedge funds now dedicated to digital currencies
bitcoin uses encryption and a blockchain database that enables the fast and anonymous transfer of funds
It is available for functions including bill collection, letters of credit and invoice financing among others
The cryptocurrency has climbed 10-fold so far this year
All you need to know about cryptocurrencies like Bitcoin, how they work, what are the risks, and why there is so much controversy surrounding them
It has soared more than 900 per cent so far this year, posting the largest gain of all asset classes