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Bitcoin falls 5.84% to US$43,418

Bitcoin falls 5.84% to US$43,418

FILE PHOTO: A collection of bitcoin (virtual currency) tokens are displayed in this picture illustration taken Dec. 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

REUTERS: Bitcoin dropped 5.84 per cent to US$43,418.02 on Sunday (Feb 28), losing US$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 US$58,354.14 on Feb 21.

Bitcoin's price soared this year as major firms including BNY Mellon, asset manager BlackRock, and credit card giant Mastercard backed cryptocurrencies, while others such as Tesla, Square and MicroStrategy invested in bitcoin.

Ether, the coin linked to the ethereum blockchain network, dipped 9.59 per cent to US$1,319.12 on Sunday, losing US$139.91 from its previous close.

Source: Reuters

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