According to CoinMarketCap data, at 06:53 GMT on December 20, the price of bitcoin fell by 13.66 percent to $16,430, however, later it rised to $17,069. At Bitfinex crypto-currency exchange trading platform, Bitcoin value dropped by 13.93 percent to $16,280 and at GDAX — by 7.02 percent to $16,550.
Currently, total crypto-currency market cap is $599.7 billion.
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This comes a day after the Monetary Authority of Singapore (MAS) issued a statement urging the public to act with caution and mind investment risks as crypto-currencies were "not a legal tender" and "not issued by any government." Similarly, the US Commodity Futures Trading Commission (CFTC) on December 15 issued a customer advisory describing virtual currency trading risks.
Since the beginning of 2017, the price of Bitcoin has skyrocketed, from $997 on January 1 to over $9,000 by the end of November. The futures are believed to further increase its value and result in wider acceptance of the cryptocurrency on the financial market.
