Bitcoin plunges as investors suffer 'reality check'

Bitcoin prices plunged by a quarter on Friday as investors cashed out just before Christmas after the wildly volatile currency's stratospheric rise in recent weeks. The precipitous drop comes after a series of warnings by analysts and governments about a bubble that could burst at any moment as investors, many inexperienced, piled into the unit hoping to enjoy some of the eye-watering gains. At its height, Bitcoin had soared almost 30-fold since the start of the year and has moved into the mainstream as two major US exchanges began trading futures in the unit.

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