Bitcoin costs fell sharply at the moment after setting a brand new all-time excessive above $2,700 on the CoinDesk Bitcoin Price Index (BPI).

The BPI hit a excessive of $2,791.70 at the moment, information reveals. Yet after starting to dip round 15:00 UTC, that transfer grew to become extra pronounced after 16:00 UTC, together with a greater than $100 drop between 16:36 UTC and 16:54 UTC, BPI information reveals, sliding from roughly $2,630 to $2,515, with an extra drop beneath $2,400 over the subsequent hour.

Markets hit a low of about $2,352, BPI information reveals. At press time, the value of bitcoin is at a median of $2,397.

The volatility comes amid a boom in cryptocurrency markets, which have seen bitcoin and others hit new all-time highs in latest days.

Rollercaster image through Shutterstock