Sunday high of nearly $20,000 per digital coin, Bitcoin dropped more than 25% to a price as low as $12,560 on Friday afternoon. Some see the drop as fallout from long-unresolved problems with Bitcoin’s infrastructure, and the increasingly intense civil war it has produced in the cryptocurrency community.
The digital currency falling below $12,560 at day’s low on Bitstamp, a cryptocurrency exchange based in Luxembourg. Bitcoin prices have swung wildly this week. From a record high of $19,666, hit on Sunday, bitcoin prices fell over 36 percent, losing more than one-third of its value, to hit $12,560 at day’s low.
Despite the sharp fall this week, Bitcoin’s price has jumped nearly 13 times this year, leading to some regulators caution the public dealing with the cryptocurrency. At 1:22 pm, Bitcoin was trading at $13,350 on Bitstamp, down nearly 15 percent.