CME group

European governments are pushing for bitcoin regulation as alarm grows that the world's most popular digital currency is being used by money-launderers, drug traffickers and terrorists./Fortune.com

Bitcoin hovered around $9,600 in volatile trade on Friday, after tumbling about 15 percent from an all-time high hit this week as some money managers warned ominously of a bubble and further falls in the stratospheric cryptocurrency, writes Reuters.

For the past three days, the value of the crypto currency bitcoin has risen by more than 20 percent to several points from a record USD 10,000 per unit, Reuters reported. Since the beginning of the year, the value of the currency has risen tenfold, and since the beginning of October has doubled.

Bitcoin hit a fresh all-time high Monday above the ,000 mark after a wild week for the cryptocurrency.

On Monday around 12:25 p.m. London time, it hit a record high of ,121.56, according to data from industry website CoinDesk. Bitcoin first broke the ,000 handle on Sunday.

The world's most popular digital currency is on a record-breaking marathon. Bitcoin has again attained a new record, jumping over the US$7,000 barrier.