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Bitcoin fell from record highs to its lowest point in 20 days



File photo: In this picture taken on April 24, 2020, the virtual currency Bitcoin can be seen on the motherboard. REUTERS / Dado Ruvic / Illustration / File Photo

(Reuters)-Bitcoin fell 6.39% on Sunday to $43,165.78, down $2,944.20 from the previous trading day.

The world’s largest and most famous cryptocurrency, Bitcoin, has fallen by 26% from its annual high of $58,354.14 on February 21, when the price of the coin soared because people are increasingly believing that it will become a mainstream investment and payment tool.

Major companies such as BNY Mellon, asset management company BlackRock Inc and credit card giant Mastercard Inc all support cryptocurrencies. Tesla Inc, Square Inc and MicroStrategy Inc have invested in Bitcoin.

Ether, a token related to the Ethereum blockchain network, fell 8.88% to 1

,329.46 US dollars on Sunday, down 129.57 US dollars from the previous trading day.

Reporting by Juby Babu in Bangalore; Editing by Lisa Shumaker


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