Bitcoin crashes over 10 per cent on Bitstamp

The digital currency touched an all-time high soaring at about $19,666 on Sunday. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India Dec 20, 2017, 02.08 AM (IST)

Bitcoin value crashed by over 10% on Wednesday to touch $15,800 at a cryptocurrency exchange Bitstamp.

"It has since pared some of the losses and is down about 7 per cent in early trade," noted a Reuters report.

The recent Bitcoin surge overwhelmed investors and financial experts all across the world as the digital currency touched an all-time high soaring at about $19,666 on Sunday, its value has been sliding ever since. 

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Meanwhile, in India, the IT department has been clamping down on Bitcoin trading, it recently announced to issue notices to 4 to 5 lakh high net-worth individuals (HNI) across the country trading in Bitcoin.

South Korea recently banned its banks from dealing in Bitcoin transactions, the country accounts for nearly 20% of global Bitcoin transactions.

(With inputs from Reuters)