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Virtual currency bitcoin lost nearly twenty percent of its value on Thursday evening, after major exchange Mt Gox halted trading to try to resolve ongoing technical issues.

The digital currency — which is known for its wild price fluctuations — was trading at $680.52 on Friday morning, having traded around $850 for most of the week, according to CoinDesk, which tracks the price of bitcoin.

Mt Gox told customers that in a effort to resolve an issue with withdrawals, the system needed to be in a static state.

"In order for our team to resolve the withdrawal issue, it is necessary for a temporary pause on all withdrawal requests, to obtain a clear technical view of the current processes," Mt Gox said on its website on Friday morning.