Bitcoin price plunges $2,000 in 12 hours as year-end rally fizzles out

Cryptocurrency falls more than 30% in five days after troubled week but analysts say it could easily bounce back. Bitcoin went into freefall on Friday, its price collapsing from the dizzying heights of nearly $20,000 (£14,965) earlier this week to about $13,000 after its year-end rally appeared to run out of steam.

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According to the CoinDesk exchange, the cryptocurrency was trading at $13,155, a fall of over 30% in five days.

Its price has fallen by more than $2,000 in 12 hours.

It came after a troubled week for bitcoin, in which a cryptocurrency exchange went bust in South Korea following a cyberattack, knocking its price.

 
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