The price of Bitcoin (TIKER: BTC.EXANTE) fell 21% in a period of wild trading after passing a record $11,000, but later recovered some of the fall, the BBC reported.
Overnight the currency slipped to $9,009 before regaining ground. The price slowly rose again and by 5pm EST it was back up to $10,000.
On Tuesday, the cryptocurrency surpassed 10,000 for the first time followed by a second rise resulting in it hitting $11,000 just the next day.
Other cryptocurrencies, including Ethereum (TIKER: ETH/USD.CRC) and Litecoin (TIKER: LTC/USD.CRC), have also fallen hard after setting their all-time highs above $500 and $100, respectively.