Bitcoin slumps 14% after weekend surge

The latest milestone for the world's most popular cryptocurrency came less than three weeks after it crossed $20,000 for the first time

  
A representation of virtual currency Bitcoin is seen in this illustration taken November 19, 2020.

A representation of virtual currency Bitcoin is seen in this illustration taken November 19, 2020.

REUTERS/Dado Ruvic/Illustration
LONDON, Jan 4 (Reuters) - Bitcoin slumped 14% to $27,805 on Monday, losing ground after making dramatic gains over the new year break.

The world's most popular cryptocurrency surged over $30,000 for the first time on Saturday, touched a record high of $34,800 a day later, as investors continued to bet the digital currency was on its way to becoming a mainstream asset.

(Reporting by Thyagaraju Adinarayan, editing by Tom Wilson) ((thyagaraju.adinarayan@tr.com; +44 20 7542 7015; Reuters Messaging: thyagaraju.adinarayan.thomsonreuters.com@reuters.net; Twitter @thyagu))

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