"We should expect to see bitcoin see-sawing in coming weeks. Whether it's bitcoin or not remains to be seen," he added.As bitcoin slumped, other cryptocurrencies climbed. Ethereum the second-biggest, was up almost 6 percent by 1320 GMT, according to trade website Coinmarketcap.For the week, bitcoin was still up almost a third. The Chicago-based Cboe Global Markets exchange will launch a futures contract on Sunday, to be followed by CME Group and Nasdaq. "The fact that Cboe, CME and Nasdaq are preparing to launch Bitcoin trading instruments in the near future could be perceived by investors as a further step towards an international acceptance of Bitcoin," said Peter Iosif, analyst at currency broker IronFX.

Source: Economic Times December 08, 2017 05:48 UTC