Bitcoin crashes after beating gold, falls to Rs 70,000 on Indian exchanges

On Indian exchanges, it falls to Rs 70,000, after hitting a high of Rs 79,000

Bitcoin, a form of digital currency, has seen one of its sharpest rallies and equally sharp falls in the last 24 hours of trading. This digital currency crossed the price of gold and traded at more than $1,200 in early trades on Thursday on China’s Huobi exchange, Beijing, whereas gold was quoted at around $1,177 per ounce on international commodity exchanges.

The Bloomberg data show Bitcoin has crossed its all-time high price of $1,137 notched on November 29, 2013 and reached a high of $1,155 on Thursday afternoon on the last few days of heavy speculation. From there it fell