Bitcoin prices tumbled more than $3,000 from the record high reached in overnight trading, only to rally moments later as its wild swings continue ahead of the launch of a futures contract linked to the world’s hottest cryptocurrency.
Bitcoins hit a record $16,666.66 each on the bitsmap exchange in Luxembourg overnight, a move which lifted the digital currency’s value past the $275 billion mark and taking its December gains to 67.5%. Prices plunged $3,000 in a matter of minutes, however, before stabilizing at around $15,000 by midday in London.
