The price of Bitcoin has plummeted in the last three days after the virtual currency hit record levels.

Values of other cryptocurrencies such as Ethererum and Ripple have also plunged, wiping billions off their combined values.

The currencies have exploded in value in recent months amid surging interest in initial coin offerings (ICOs), a newly-popular way for companies to raise funds.

The surging prices of Bitcoin, Ethereum and others had appeared to defy warnings of a bubble, but sceptics believe that a crash will only be a matter of time.