The price of bitcoin dropped by 7% on Saturday over the course of just a few minutes, as prices for other cryptocurrencies also sharply declined after Iran launched an attack on Israel.

<div class="image-embed__placeholder"><img src="https://specials-images.forbesimg.com/imageserve/661aefdb242cf9807f9e0670/Bitcoin/960x0.jpg?cropX1=0&amp;cropX2=2719&amp;cropY1=139&amp;cropY2=1670" alt="Bitcoin" width="100%" height="auto"></div><figcaption><fbs-accordion><p class="color-body light-text">The cryptocurrency climbed to a record high last month amid a months-long rally. </p></fbs-accordion><small>Getty Images</small></figcaption>

 <div class="key-facts-element"> <p>The price of Bitcoin was down 7% to $62,570 as of 4:40 p.m. Saturday afternoon, <a href="https://www.coindesk.com/price/bitcoin/" rel="nofollow noopener noreferrer" target="_blank" class="color-link" title="https://www.coindesk.com/price/bitcoin/" data-ga-track="ExternalLink:https://www.coindesk.com/price/bitcoin/" aria-label="according">according</a> to CoinDesk, after the cryptocurrency briefly fell to a low on the day of $60,908 minutes earlier.</p>  </div>


<em>This is a developing story and will be updated.</em>

The cryptocurrency climbed to a record high last month amid a months-long rally.{ai:summary}<p>Bitcoin prices plunge by 7% after Iran's attack on Israel, impacting other cryptocurrencies. Prices hit record high last month. #economy</p>

Bitcoin Plummets After Iran Launches Attack On Israel

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