bitcoin

A representation of virtual currency bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021.

REUTERS

(Reuters) — Bitcoin dipped 5.16% to $33,849.47 at 18:00 GMT on Saturday, losing $1,842.99 from its previous close.

Ether, the coin linked to the ethereum blockchain network, dropped 6.26% to $2,262.06 on Saturday, losing $151.11 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 47.8% from the year's high of $64,895.22 on April 14.

It has been less volatile in the past week but losses this month have been heavy at 38%, driven by growing regulatory pressures on the sector. It is trading at levels last seen in January and at roughly half its peak value.

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