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

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

Bitcoin fell to its lowest since Feb. 8 in thin on Sunday, down 3.7per cent from Friday's close as the pullback from a record high near US$60,000 continued.

FILE PHOTO: Representation of the virtual currency Bitcoin is seen on a motherboard in this picture
FILE PHOTO: Representation of the virtual currency Bitcoin is seen on a motherboard in this picture illustration taken April 24, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

REUTERS: Bitcoin fell to its lowest since Feb. 8 in thin on Sunday, down 3.7per cent from Friday's close as the pullback from a record high near US$60,000 continued.

The world's biggest and best-known cryptocurrency has risen as much as 70per cent since the start of the year, hitting a record high of US$58,354.14 one week ago amid increasing confidence that it will become a mainstream investment and payments vehicle.

(Compiled by the Global Finance & Markets Breaking News team; Editing by David Clarke)

Source: Reuters

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