Bitcoin extends the withdrawal from the record high to the lowest level in 20 days

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FILE PHOTO: The representation of the Bitcoin virtual currency is seen on a motherboard in this illustrated illustration from April 24, 2020. REUTERS / Dado Ruvic / Illustration / Photo file

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

Bitcoin, the largest and most popular cryptocurrency in the world, fell 26% from a high of $ 58,354.14 on February 21, when it grew amid confidence that it will become a major investment tool and payment.

Major companies such as 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 bitcoin.

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

Reporting by Juby Babu in Bengaluru; Edited by Lisa Shumaker

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