The value of the world’s top 20 cryptocurrencies has dropped dramatically in the last 24 hours.

There were double-digit falls in all 20 tokens, with Bitcoin – the world’s most valuable cryptocurrency – falling as low as $6,253 on Thursday morning.

Bitcoin is trading at $6,398 at the time of writing, compared with around $7,400 just 24 hours previously – a 13.5 per cent drop.

Ethereum, the second-largest digital currency by market capitalisation, fell a huge 21.6 per cent in 14 hours.

A report on Wednesday that global investment bank Goldman Sachs was putting its plans for a cryptocurrency trading desk on hold was blamed for the drops.