Bitcoin plunges as investors suffer 'reality check'

Bitcoin plunges as investors suffer 'reality check'Bitcoin prices plunged by more than 20 percent on Friday as investors cashed out just before Christmas following the wildly volatile currency’s stratospheric rise in recent weeks. The precipitous drop came after a series of warnings by analysts and governments about a bubble that could burst at any moment as investors, many inexperienced, piled into the unit hoping to enjoy some of the eye-watering gains. The controversial cryptocurrency, which is not backed by any central bank, stood at $ 12,840 near 1815 GMT from its Thursday price of $ 16,563.

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