BTC slides more than 5 after topping 40,000 for first time

Bitcoin fell more than 5 on Friday, a day after topping 40,000 for the first time.

The worlds most popular digital currency slid to as low as 36,618.36 on Bitstamp exchange, after reaching an alltime high of 40,402.46 in the previous session.

Market participants had warned of a correction after the 40,000 milestone was reached.

Increased demand from institutional, corporate, and more recently retail investors has powered bitcoins surge, attracted by the prospect of quick gains in a world of ultralow yields and negative interest rates.

JPMorgan strategists wrote on Jan. 5 that the digital currency has emerged as a rival to gold and could trade as high as 146,000 if it becomes established as a safehaven asset.

Source FXPro