Bitcoin falls as much as 6% as it pulls back from record high
Global Economy
23 February, 2021, 12:25 pm
Last modified: 23 February, 2021, 12:25 pm
Ether also dropped more than 5% and last bought $1,707
A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. Photo: REUTERS/Benoit Tessier/Illustration
Cryptocurrency bitcoin dropped as much as 6% in Asia trade on Tuesday and was trading around $52,000 as it pulls back from record highs following a long and sharp rally.
Bitcoin hit a low of $50,848 in the session following a wild ride on Monday where it traded in a $10,000 range. It's up nearly 90% from the year's low of $27,734.
Ether, the coin linked to the ethereum blockchain, also dropped more than 5% and last bought $1,707, down almost 17% from last week's record peak.
Comments
While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.