Bitcoin extends losses, slips below $14,000 on Bitstamp exchange

Bitcoin fell more than 10 percent to below $14,000 on the Bitstamp exchange on Friday, extending overnight losses.

It was last down 11 percent at $13,872.

The cryptocurrency, which was at about $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.

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Bitcoin is known to go through wild swings. In November, it tumbled almost 30 percent in four days from $7,888 to $5,555. In September, it fell 40 percent from $4,979 to $2,972.