FILE PHOTO: A bitcoin sign is seen during the Riga Comm 2017, business, technology, and innovation at a fair in Riga, Latvia, November 9, 2017. REUTERS/Ints Kalnins/File Photo
LONDON (Reuters) – Bitcoin, the price slipped 12% on Thursday to $11,383, after hitting an 18-month high of nearly $ 14,000 this week.
The world’s largest cryptocurrency has risen sharply in value since the beginning of April, and has risen more than 260%, but remains below its all-time high of nearly $ 20,000 hit in December 2017.
Analysts say that Facebook’s recent announcement that it is offering its own cryptocurrency Scale has revived the interest in digital currencies, as investors in search of safety have also increased, to the bitcoin is its price.
Report by Tommy Reggiori Wilkes; Editing by Abhinav Ramnarayan