Bitcoin – ethereum and other major cryptocurrencies have experienced a sudden drop in price – knocking billions of pounds off their value in the space of just a few minutes.
The shock collapse comes after a sustained period of relative stability for cryptocurrency markets – potentially triggered by a major stock market sell-off.
Bitcoin lost around 7 per cent of its value and is currently trading below $6,300 (£4,700).?
Ethereum – ripple and bitcoin cash were hit even harder by the downturn – falling by between 10 and 12 per cent on Thursday morning.