The digital currency dropped more than 18 percent

Bitcoin plunges 18% after topping $11,000 in extremely volatile trading.
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency – the system works without a central repository or single administrator

The digital currency dropped more than 18 percent from a record high of $11,388.33 to current levels around $9,292 on Wednesday, according to CoinDesk.
Trading was extremely volatile as exchanges such as Coinbase's GDAX struggled to keep up with the surging demand.
"There's no fundamental value to any of this stuff and it's all based on ... supply and demand at any point in time," said Leigh Drogen, a former trader who now heads Estimize, a 6-year-old company that collects and publishes financial estimates for data such as earnings.