Bitcoin just took a major dive after nearing all-time high

Lynsey Barber
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The price of bitcoin has crashed as much as 20 per cent (Source: Getty)

Just when you thought it was safe to go back in the water...

Anyone thinking of dipping their toe in the water of investing in bitcoin might want to have a rethink.

A steady rally towards all-time highs for the cryptocurrency in recent weeks has veered totally off course, crashing as much as 20 per cent on Thursday afternoon.

It fell as low as $887.47 according to Coindesk's bitcoin price index (BPI), its lowest since 25 December and just days after shooting past the $1,000 mark for the first time in three years.

It had been within touching distance of its all-time high achieved in 2013.

Bitcoin pared losses and is at $945.41 at the time of publication.

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