Bitcoin falls below $70,000 as inflation and interest rate concerns weigh on prices

At its lowest point early Friday, bitcoin fell to $67,628, its lowest price since August 19 and a nine percent drop in two trading days.

The cryptocurrency has recovered somewhat since then and was hovering around $68,700 just before 9 a.m. local time in Sweden.

Today's bitcoin price can be compared with last October's record high of just over $126,000 per bitcoin.