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Bitcoin dropped 5.84 per cent to $43,418.02 on Sunday, losing $2,691.96 from its previous close.
Bitcoin, the world’s biggest and best-known cryptocurrency, has fallen 25.6 per cent from the year’s high of $58,354.14 on Feb. 21, reports Reuters.
Bitcoin’s price soared this year as major firms including BNY Mellon, asset manager BlackRock Inc, and credit card giant Mastercard Inc backed cryptocurrencies, while others such as Tesla Inc Square Inc and MicroStrategy Inc invested in bitcoin.
Ether, the coin linked to the ethereum blockchain network, dipped 9.59% to $1,319.12 on Sunday, losing $139.91 from its previous close.