Bitcoin falls 6.1 percent to US$47,607

^{FILE PHOTO: A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19, 2021. REUTERS/Edgar Su}

Bitcoin dropped 6.13per cent to US$47,606.92 on Tuesday, losing US$3,111.19 from its previous close.

Bitcoin, the world’s biggest and best-known cryptocurrency, is down 31per cent from the year’s high of US$69,000 on Nov. 10.

Ether, the coin linked to the ethereum blockchain network, dropped 5.57 per cent to US$3,812.6 on Tuesday, losing US$224.8 from its previous close.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Chris Reese)

Source: Reuters