Bitcoin tumbled more than 15 percent in volatile Asian trading Friday, dropping below $14,500 level after touching a record high above $16,000 earlier in the sessionĀ and underlining concerns about its volatility.
It was still up more than 30 percent for the week, as investors debated about whether the cryptocurrency was in a bubble that was about to burst.
The virtual currency, which has no central bank backing and no legal exchange rate, briefly hit a new record of $17,000 before plunging to $14,480 in Asian afternoon trading, according to Bloomberg News.
It clawed back some ground and stood at $16,100 at 0830 GMT.
Bitcoin plunges 15% in wild trading after hitting new record
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