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Bitcoin extends retreat from record high to hit lowest in 20 days

Published 02/28/2021, 09:04 AM
Updated 02/28/2021, 01:25 PM
© Reuters. FILE PHOTO: Representation of the virtual currency Bitcoin is seen on a motherboard in this picture illustration

(Reuters) - Bitcoin dropped 6.39% to $43,165.78 on Sunday, losing $2,944.20 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 26% from the year's high of $58,354.14 on Feb. 21 when it soared amid increasing confidence that it will become a mainstream investment and payments vehicle.

Major firms such as BNY Mellon (NYSE:BK), asset manager BlackRock Inc (NYSE:BLK) and credit card giant Mastercard Inc (NYSE:MA) have backed cryptocurrencies. Tesla (NASDAQ:TSLA) Inc, Square Inc (NYSE:SQ) and MicroStrategy Inc have invested in bitcoin.

Ether, the coin linked to the ethereum blockchain network, dropped 8.88% to $1,329.46 on Sunday, losing $129.57 from its previous close.

Latest comments

these comments haven't aged well. learn how to do some technical analysis boys. falling wedge is bullish. new ATHs coming with 2 weeks. see you at $75k.
Sky is the limit, lol
Elon most have sold at 50 k 🤓.
Take another picture. At 45450.
It will go up in a few minutes
Bounce of $ 2000 already.....who are the pros who write the untruth?
Bubble popping love to see it
Sic
The largest bubble in the history of all mankind. I predict Bitcoin back to $5000 by End Of 2022
It was near that a year ago.
it's not possible
wanna bet?
gambling
will buy in at 28,000
the sky is falling !!!! arghhh !!
bitcoin is still the most valuable asset in the world
What a great store of value
What a great medium of exchange lol
would feel more satisfied if the title was... lowest in 10 years..
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