Bitcoin falls 5.84% to $43,418


(Reuters) - Bitcoin dropped 5.84% to $43,418.02 on Sunday, losing $2,691.96 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 25.6% from the year's high of $58,354.14 on Feb. 21.

Bitcoin's price soared this year as major firms including BNY Mellon (NYSE:BK), asset manager BlackRock Inc (NYSE:BLK), and credit card giant Mastercard Inc (NYSE:MA) backed cryptocurrencies, while others such as Tesla (NASDAQ:TSLA) Inc Square Inc (NYSE:SQ) and MicroStrategy Inc invested in bitcoin.

Ether, the coin linked to the ethereum blockchain network, dipped 9.59% to $1,319.12 on Sunday, losing $139.91 from its previous close.

Source: https://www.investing.com