Bitcoin tumbles 8.5% to $31,700; Ether tanks 7%

Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is up 14.3% from the year's low of $27,734 on Jan. 4.

Ether, the coin linked to the ethereum blockchain network, dropped 7.37 % to $1,843.07 on Friday, losing $146.56 from its previous close.