Bitcoin price - latest updates: Cryptocurrency value stabilises after dramatic price plunge

The value of bitcoin plunged last month, amid fears that trading was about to be banned in South Korea. It then stabilised briefly, before plummeting again.

The volatile cryptocurrency hit a record high when it passed $19,850 in mid-December, but then tumbled rapidly, falling to below $12,000 within days.

Its value has shifted unpredictably ever since, with frequent wild drops and recoveries. The rapid drops are partly the result of continuing fears about regulation, as well as anxiety provoked by a series of high-profile thefts.

Its value dropped spectacularly at the start of February, falling from $10,000 to $6,000 in four days. However, it now appears to be recovering.

It is worth $8,389 as of Friday afternoon UK time, according to the Coinbase exchange.

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