Bitcoin crashes by 23 percent; other cryptocurrencies down too

Cryptocurrency Bitcoin on Friday recorded its highest percentage loss of value, 23 percent, in 2017, before recovering partially.

According to TechCrunch, the drop wiped more than USD 4,000 from the value of bitcoin at one point.

The cryptocurrency, which has been on a record roll jumped from approximately USD 8,000 to nearly USD 20,000, in the past month.

The price, however, briefly dipped below USD 12,000.

Other cryptocurrencies such as Ethereum, Bitcoin Cash, and Litecoin were also down.

However, Ripple was up by seven percent, and was among one of the two coins to remain green.

People are still speculating about the cause of the depreciation, much like the rise and growth of the currency.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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