Bitcoin bounce back after serious slump

Bitcoin prices moved back over the $15,000 mark Saturday following a steep decline on Friday when the digital currency shed about 33% of its value. Prices had approached $20,000 as recently as a week ago.

Bitcoin, which is known to be extremely unstable, sank beneath $11,000 at one point on Friday, as per information from CoinDesk.com.

The price dip came on the back of a few days of bad news for bitcoin, which has still soared by more than 1,000% since the start of the year.

Earlier in the week, a South Korea-based virtual currency exchange was forced to close its doors after falling victim to two attacks by hackers in the space of a few months.

The incidents have raised questions about the reliability of crypto currency markets, which aren't regulated by governments or central banks.

Friday's plunge threatens to take the shine off what's been an incredible year for bitcoin. This time last year the virtual currency was worth less than $1,000.

Bitcoin's dizzying ascent has prompted a number of high-profile figures in finance and economics to sound the alarm, cautioning that the currency's boom is simply a huge bubble.

Only with the passage of time, bitcoin will reveal its real identity in future.