Bitcoin crashes $2,500 in four hours after reaching record high of $17,000

Bitcoin dropped sharply today in Asia (Picture: Getty)

The value of Bitcoin nosedived this morning after trading opened in Asia, just four hours after reaching record highs.

The currency dropped by more than $2,500 (£1,853) from its high of $17,000 (£12,602).

However, the relentless rise of the digital currency from $1,000 in January has previously seen occasional sudden drops before increasing again.

At 1.30pm in Hong Kong Bitcoin had fallen to $14,566.81 (£10, 798.38)  Friday which was a 14 percent fall from an earlier high of $17,153.94 (£12,721.36).

New investors, including investment and mutual funds, have piled into the crypto-currency this week propelling the price upwards but today’s drop has been described as ‘healthy’ by… Read the full story

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