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| Bitcoin plunges by 30% after record high of $20,000 | Bitcoin plunges by 30% after record high of $20,000 |
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| The price of bitcoin fell to less than $13,080 on Friday morning, according to CoinDesk.com. That makes an 18-percent drop since its previous slide, and more than 30 percent since it reached the historic 20k mark last week. | The price of bitcoin fell to less than $13,080 on Friday morning, according to CoinDesk.com. That makes an 18-percent drop since its previous slide, and more than 30 percent since it reached the historic 20k mark last week. |
| The cryptocurrency has experienced its second major drop in just days. Rival bitcoin cash has also fallen, plunging to $2,536 per coin, following its rapid climb of more than 50 percent to almost $4,330 per token on December 20. | |
| Bitcoin managed to recover some of its losses within several hours, trading above $14,200 as of 6:00 GMT. | |
| READ MORE: Bitcoin soars above historic $20,000 mark | READ MORE: Bitcoin soars above historic $20,000 mark |
| Emil Oldenburg, the co-founder of Bitcoin.com – one of the world’s largest sites devoted to the cryptocurrency – recently called the cryptocurrency the “most risky investment you can make,” after he switched to bitcoin cash, which he considers to be the future. | Emil Oldenburg, the co-founder of Bitcoin.com – one of the world’s largest sites devoted to the cryptocurrency – recently called the cryptocurrency the “most risky investment you can make,” after he switched to bitcoin cash, which he considers to be the future. |
| “The old bitcoin network is as good as unusable,” said in an interview with Swedish tech site Breakit. | “The old bitcoin network is as good as unusable,” said in an interview with Swedish tech site Breakit. |
| Despite the declines on Thursday and Friday, the five largest virtual currencies by market capitalization have seen a remarkable rise this year. | |
| - The original bitcoin is up 1,300 percent since January 1. | |
| - The second most valuable cryptocurrency – ethereum – has gained 8,000 percent. | |
| - Ripple is the biggest mover among the top five, with gains of over 16,000 percent this year. | |
| - Since splitting from the original in August, bitcoin cash has gained 600 percent. | |
| - Rounding out the top 5, litecoin has seen an increase of over 5,000 percent. |