Bitcoin plummets more than 12 percent to below $15,000

Bitcoin tumbled more than 12 percent in volatile Asian trading on Friday, dropping below the $15,000 level after touching a record high above $16,000 earlier in the session.

Bitcoin was down 12.6 percent on the Bitstamp exchange at $14,500.76 as of 0530 GMT, after rising to a record $16,666.66 BTC=BTSP.

It was still up more than 30 percent for the week, as investors debated about whether the cryptocurrency was in a bubble that was about to burst.