Bitcoin's Value Crashes

Bitcoin went into freefall on Friday, its price collapsing from the dizzying heights of nearly $20,000 earlier this week to around $12,000 as steam appeared to be running out of its year-end rally.

According to Coindesk, the cryptocurrency was trading at $12,137, a fall of 36 per cent in five days. Its price has fallen by over $2,000 in the space of 12 hours.

It comes after a troubled week for Bitcoin, in which a cryptocurrency exchange went bust in South Korea following a cyber attack, knocking its price.