Bitcoin slumped 10 per cent on Thursday to attend a low.

The world's most popular crypto currency has lost nearly a quarter since touching a record $42,000 on January the eighth.

The pullback comes amid growing concerns that Bitcoin is one of a number of financial market price bubbles.

Traders also said that fears US President Joe Biden's administration could attempt to regulate crypto currencies have weighed on sentiment.

During a Senate hearing on Tuesday, Janet Yellen Biden's picked ahead the U.

S Treasury expressed concerns that crypto currencies could be used to finance illegal activities, she said.

I think we need to examine ways in which we can curtail their use and make sure that money laundering does not occur through these channels.