(CNBC) Bitcoin tanked as much as 23 percent Thursday afternoon after nearing an all-time high earlier in the trading day.
The world's largest cryptocurrency by market cap traded as low as $887.47, down from the day's high of $1,153.02, according to CoinDesk data. The high for the day was just shy of $1,165.89 set on November 30, 2013. The price has recovered somewhat from the day's low to about $973.89 at the time of publication.
A stack of bitcoins stand on top of U.S. one dollar bills.
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Chris Ratcliffe | Bloomberg | Getty Images
However, bitcoin beat its high on some other cryptocurrency exchanges. Whereas CoinDesk's price index takes into account many different bitcoin exchanges – individual exchanges, where users can trade bitcoin, noted their own highest prices were exceeded. Among these were one of China's biggest and most liquid exchanges, BTC China.