Bitcoin slips below US$14,000 on Bitstamp exchange

BITCOIN - TOKYO. Bitcoin fell more than 10% to below US$14,000 on the Bitstamp exchange on Friday, extending overnight losses. It was last down 11% at US$13,872.

The cryptocurrency, which was at about US$1,000 at the year’s start, had climbed to a record high of $19,666 on Sunday in lead up to exchange giant CME Group’s launch of bitcoin futures before losing steam.

Bitcoin is known to go through wild swings. In November, it tumbled almost 30% in four days from US$7,888 to US$5,555.

In September, it fell 40% from US$4,979 to US$2,972.