Cryptocurrency bitcoin dropped by 6 percent in Asia trade on Tuesday and was trading around US$52,000 as it pulls back from record highs following a long and sharp rally, Reuters reports. Bitcoin hit a low of US$50,848 in the session following a wild ride on Monday where it traded in a US$10,000 range. It's up by nearly 90 percent from the year's low of US$27,734. Ether, the coin linked to the ethereum blockchain, also dropped by more than 5 percent and last bought US$1,707, down by almost 17 percent from last week's record peak.

Source: The Standard February 23, 2021 06:00 UTC