Bitcoin and several other major cryptocurrencies plunged Thursday evening New York time as the end of an exponential year of growth neared.
The slashing decline triggered temporary, built-in trading halts in the bitcoin futures traded on the CME and Cboe.
Bitcoin plunged more than 20 percent to a low of $12,504 according to CoinDesk, down more than $3,000 from $15,820 less than 12 hours ago. The digital currency recovered slightly to $13,545, as of 4:09 a.m., ET, but was still down almost 13 percent for the session.
Bitcoin 12-hour performance
CoinDesk's bitcoin price index tracks the price of bitcoin on Bitstamp, Coinbase, itBit and Bitfinex.
Despite the sharp drop, the decline took bitcoin only to roughly two-week lows. The digital currency is still up more than 1,300 percent this year.