Bitcoinprices plunged further on Thursday, after one of the largest Chinese exchanges for the cryptocurrency said it would stop all trading at the end of the month amid a country-wide crackdown.

Bitcoin has fallen more than 30pc since its peak less than two weeks ago, with drops recorded each day since Friday.

The virtual currency is now trading at around $3,350. It swelled to cross the $5,000-threshold on September 4, having risen from just under $1,000 at the start of 2017.

It is thought the $5,000 milestone may have been seen as an opportunity by bitcoin owners to sell their investments, starting the sell-off and price plunge.