The most popular cryptocurrency, Bitcoin, surpassed the $12,000-mark on Wednesday for the first time since January 2018, according to trade data.
Bitcoin’s pullback accelerated on Thursday as it started to break below $11,000.
In total, the cryptocurrency plummeted by over 15 percent today.
Bitcoin, created in 2008, eventually became the world’s most popular cryptocurrency. It was valued at less than $1 US in 2011, but after several explosive price hikes it grew to over $20,000 in 2017. Last year, however, the price of the currency dropped several times, settling below the $5,000 mark.