Bitcoin’s wild price fluctuations continued, with the largest cryptocurrency spiking downward by about US$3,000 in a matter of seconds during mid-afternoon trading. 

The dramatic price move followed a similar pattern seen on Wednesday, when Bitcoin slumped quickly in early trading for no identifiable reason. The digital asset, which has traded within a range of about 8 per cent Thursday, bounded back to recoup all of the move and was up about 4.7 per cent to US$61,682 as of 4:20 p.m. in New York.  

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Bitcoin is notorious for its price gyrations, with traders often grasping for reasons behind the moves. Most point to the low level of liquidity in the little more than a decade-old asset class. Crypto Twitter was quick to acknowledge and downplay the move.     

Bitcoin climbed to a record US$66,976 on Oct. 20 and has more than doubled this year.