(Reuters) – Bitcoin fell 6.39% to $ 43,165.78 on Sunday and lost $ 2,944.20 from its previous close.
Bitcoin, the world’s largest and best-known cryptocurrency, has fallen 26% from the year-high of $ 58,354.14 on February 21, when it shot amid growing confidence that it will become an investment vehicle and conventional payments.
Big companies like BNY Mellon, asset manager BlackRock Inc. and credit card giant Mastercard Inc. have backed cryptocurrencies. Tesla Inc., Square Inc. and MicroStrategy Inc. have invested in bitcoins.
Ether, the currency linked to etereum’s blockchain network, fell 8.88% to $ 1,329.46 on Sunday and lost $ 129.57 from its previous close.
Reports from Juby Babu to Bengaluru; Edited by Lisa Shumaker