This follows a 10 per cent fall in Bitcoin’s value after rival digital currency Bitcoin cash was launched on the market.
It has managed to recover to $14,000.00 (£10,479.84) although time will tell if it will continue to reach new heights.
It’s been a volatile month for the Bitcoin, after reaching a then record high of $12,950, on December 10 to its current slump.
But some investors are worried, the cryptocurrency market’s inability to cope with sudden shifts in demand shows just how immature and volatile the market infrastructure is.
An eBay executive told Yahoo Finance the tech giant is “seriously considering” accepting bitcoin payments after its recent success.
Although Scott Cutlor, senior vice president of eBay Americas said they’re “not quite there yet”, his consideration indicates how fast the cryptocurrency is permeating the mainstream.
John Taylor Jr, president and founder of research firm Taylor Global Vision in New York, on the other hand, believes Bitcoin will soon crash, even though it hasn’t reached its peak yet.
The cryptocurrency’s recent record of nearly $20,000 has been attributed to surging demand in China, where authorities warn it is used to channel money out of the country.
In March 2017 the price exceeded the value of an ounce of gold for the first time – then around £940.