Just as swiftly the gains came in the largest cryptocurrency Bitcoin and it peaked to levels of $14000, the prices have been pulled back to the level last seen five days ago. This retreat comes on the back of outage of one of the leading cryptocurrency exchange.
In 2017 end similar crash came in bitcoin after it hit an all-time high of $20,000 due to fraud-related issues as well as regulatory setbacks.
This year the surge in bitcoin came in after the token gained wider adoption and its underlying blockchain technology pushed prices higher.
On Thursday, the currency lost as much as 19% and ended with losses of 16% and today in Hong Kong as of 10:50 am, the token is priced higher by 4.2% to $11,137.