At 6.50am (BST), one bitcoin (BTC) was worth £16,651 GBP. Within just 10 minutes, its value had dropped by more than 4.6 percent to £15,882.
Rory Cellan-Jones, former BBC Technology Corespondent, highlighted in a post on Twitter that the cryptocurrency was in “freefall”.
Bitcoin this morning, at 00.35am, peaked at £16,942.
It has, since that time, dropped by more than seven percent.
Reporter Adam Bass responded to Mr Cellan-Jones noting: “There’s crashing and then there’s… oh mama.”
The cryptocurrency is continuing to fall.
By 7.47am, it had dropped to £15,665.
This represented a 5.9 percent fall from 6.50am and a 6.33 percent fall from midnight.
More to follow.
