Bitcoin Drops Below $15,000 Again

Today, Bitcoin falls back below $15,000 after hitting a new record high of $17,000 this week.

The cryptocurrency dropped by more than seven percent today, wiping over $1,100 off its value, and hitting a low of $14,812 at 11.10am GMT. At the time of writing, Bitcoin had recovered to be back above $15,000, following a drop of $500 in just an hour.

This follows another drop yesterday as the volatility of the cryptocurrency continues to prompt peaks and troughs. Bitcoin later recovered to reach $16,250. However, it has faltered downwards today.

The rally of Bitcoin this year has come as consumer knowledge of cryptocurrencies has cut through to the mainstream. However, it has also taken numerous hits as established financial authorities and companies express scepticism regarding the cryptocurrency.