Bitcoin has been on a tear this past with the value of the cryptocurrency jumping from $8,000 to nearly $20,000. Well that run hit an abrupt end today as the price crashed as much as 23 percent on Coinbase. The price briefly dipped below $12,000 on some exchanges at around 7:30 am London time.
The drop — which wiped more than $4,000 from the value of bitcoin at one point — was the highest percentage loss of value that bitcoin has seen this year. The cryptocurrency was valued at just $998 on January 1 2017 and it soared to a record high of nearly $20,000 on some exchanges earlier this week.
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