Bitcoin price: Cryptocurrency falls below $15,000 again

Bitcoin dropped back below $15,000 today after hitting a new high of $17,000 this week.

The cryptocurrency fell more than seven per cent today, wiping more than $1,100 off its value, and hitting a low of $14,812 at 11.10am GMT. At the time of writing it had recovered to be above $15,000 again, following a $500 drop in just one hour.

This follows another tumble yesterday as its volatility continues to cause peaks and troughs. It later recovered to reach $16,250 but has stuttered downwards today.

Bticoin’s rally this year has come as consumer knowledge of cryptcurrencies has broken through to the mainstream. But it has also taken several hits as established financial companies and authorities express scepticism over the cryptocurrency.