UPDATE 1-Bitcoin Extends Pullback From All-Time High to 20-Day Low

UPDATE 1-Bitcoin Extends Pullback From All-Time High to 20-Day Low

(Updates prices)

February 28 (Reuters) – Bitcoin fell 6.39% to $ 43,165.78 on Sunday, losing $ 2,944.20 from its previous close.

Bitcoin, the world’s largest and best-known cryptocurrency, fell 26% from a year’s high of $ 58,354.14 on February 21, when it soared amid confidence growing in the fact that it will become a mainstream investment and payment vehicle.

Big companies like 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 coin linked to the Ethereum blockchain network, fell 8.88% to $ 1,329.46 on Sunday, losing $ 129.57 from its previous close.

(Report by …

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