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

FILE PHOTO: Representation of cryptocurrency Bitcoin is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) - 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.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Shri Navaratnam)

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