Bitcoin collapses below $10,000 -- gives up all of its gains

Bitcoin fell below $US10,000 for the first time on Wednesday, after crossing the milestone just a day earlier.

The crypto currency is now trading 13% below its peak of $US11,413.03, according to data from Markets Insider.

Other currencies like Ethereum and litecoin also crossed major milestones in the past 24 hours. Ethereum traded above $US500 for the first time, and litecoin above $US100, but both have since fallen below those marks as well.

Watch bitcoin trade in real time on Markets Insider.

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