Bitcoin extends downtrend, falls 12.1% to US$47,176

FILE PHOTO: A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken, May 19, 2021. REUTERS/Dado Ruvic/Illustration

BITCOIN dived 12.14% to $47,176.09 on Saturday, losing $6,567.6 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 31.6% from the year's high of $69,000 reached on Nov. 10.

Ether, the coin linked to the ethereum blockchain network, dropped 10.14 % to $3,794.61 on Saturday, losing $428.19 from its previous close. - Reuters