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| Bitcoin plunges by 30% after record high of $20,000 | Bitcoin plunges by 30% after record high of $20,000 |
| (about 3 hours later) | |
| The price of bitcoin fell to less than $13,000 on Friday, according to CoinDesk.com. That makes an 18-percent drop since its previous slide, and more than 30 percent since it reached the historic $20,000 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. | 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, but fell below $13,000 once again by 13:34 GMT. | |
| 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. | 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 original bitcoin is up 1,300 percent since January 1. |
| - The second most valuable cryptocurrency – ethereum – has gained 8,000 percent. | - 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. | - 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. | - 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. | - Rounding out the top 5, litecoin has seen an increase of over 5,000 percent. |
| READ MORE: Insider trading probe leads to crash of bitcoin cash | READ MORE: Insider trading probe leads to crash of bitcoin cash |
| Over the last 24 hours, cryptocurrencies have lost over $175 billion in market capitalization. Prior to the crash on Thursday, the digital money market was worth $650 billion. After the bloodbath – $474 billion. | Over the last 24 hours, cryptocurrencies have lost over $175 billion in market capitalization. Prior to the crash on Thursday, the digital money market was worth $650 billion. After the bloodbath – $474 billion. |
| Only six out of the top 100 cryptocurrencies listed on the CoinMarketCap website were trading in positive territory as of 8:00 GMT on Friday. | Only six out of the top 100 cryptocurrencies listed on the CoinMarketCap website were trading in positive territory as of 8:00 GMT on Friday. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |