The price of digital currency Bitcoin has fallen sharply in a period of wild trading since it passed the $11,000 mark a day ago. Bitcoin is now around $9,400, down nearly 20% from the record $11,434 (£8,500) it hit on Wednesday.
The trading over the past day "was a rollercoaster like nothing I've ever seen," said Neil Wilson, a financial analyst at ETX capital in London.
He said part of the volatility was due to small investors "with no market experience" buying and selling the coin.
"There is no way to discern what fair value is - it's so incredibly speculative and it is so new and not properly understood."
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