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The fall occurred against the backdrop of pressure from international exchanges that sell items based on currency values.
Read more: China Evergrande and Laos Seen Feeding Bitcoin Price Action
The company has headhunted some incredibly big names in finance as plans for continued expansion unfold.
Read more: Ripple Hires Heavy Hitters in Anticipation of Expanding RippleNet
Wall Street investment bank Goldman Sachs has canvassed some of the world's most prominent investors - as well as their own analysts - to assess the current status of cryptocurrencies as a genuine investment proposition.
Read more: Cryptocurrency Backed as a New Asset Class by Goldman Sachs
Bitcoin prices rose sharply ahead of the weekend, with market commentators saying the rally underlines the febrile state of global financial markets.
Bitcoin has an added advantage on gold of being decentralised and far scarcer says David Mercer, CEO of LMAX Group.
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