Bitcoin Slumps by 10% After Surging to New High

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Bitcoin hit record high of just under $4,500, but fell by 10 per cent as sellers took control of the market.

A report quoted from DAILYFX today says the slump in Bitcoin was mirrored in a range of other digital currencies with only a handful of altcoins trading in positive territory.

It noted that the slump knocked off around $7 billion of the market capitalization- currently just under $135 billion-although the market is still $17 billion higher than one week ago.

‘’Volatility returned to the digital currency space with the price of BTC jumping to a record high of $4,430 before falling back to trade at low of $3,940, all in the space of one hour.’’, the report stated.