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What goes up... Bitcoin loses steam after topping $11,000

What goes up, must come down.

And while bitcoin's been on something of a streak, the cryptocurrency crashed back below $10,000 this evening, after notching past $11,000 earlier in the day.

At the time of writing it was trading at $9,848 according to Coin Desk, down from a high of $11,377 for the day.

Bitcoin has been collecting headlines of late, as its recent rise continued to push higher, though critics have labelled it a bubble, while many investors are still hesitant about investing. Meanwhile, JP Morgan Chase's boss memorably called cryptocurrencies a "fraud" in September

Read more: Now bitcoin's smashed the $11,000 mark

Earlier this month, a survey by market research firm D-CYFOR found that although 80 per cent of the general public in the UK have heard of bitcoin, 58 per cent said they would not invest in it, while 30 per cent predict it will collapse and be worthless within the next six months.

Views on the cryptocurrency vary dramatically - 54 per cent said they were optimistic about an increase in value over the next six months, though 15 per cent said they were thinking of investing in it.

Last month, CME Group announced plans to launch bitcoin futures by the end of the year after "increasing client interest in the evolving cryptocurrency markets".

Read more: This massive private equity investor reckons the bitcoin bubble will burst

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