Bitcoin‘s price skidded 12% lower on Thursday to around $11,383 after hitting an 18-month high of nearly $14,000 earlier this week.
The world’s biggest cryptocurrency has surged in value since April and has risen more than 260%, although it remains below its all-time high of nearly $20,000 hit in December 2017.
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Analysts say Facebook’s announcement that it would offer its cryptocurrency Libra has revived interest in digital currencies, while investors seeking safety have also pushed up bitcoin’s price.
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