Bitcoin slumps after rallying to all-time high

Bitcoin slumped as much as 13 per cent on Thursday after surging to an all-time record in the previous session — a blow to the view that the latest rally is built on long-term foundations, but seen by some analysts as a short-term “correction”.

The exchange rate reached slightly less than $16,320 in morning trading in London, less than 24 hours after hitting a record high of $19,510.

Bitcoin has risen about 50 per cent in the past three months, and about 140 per cent…


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