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Profit-booking prevents bitcoin’s tryst with $US50,000

Fergal Smith, David Randall and Julien Ponthus

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Singapore/New York/London | Bitcoin pulled back from a new high on Monday and other cryptocurrencies slipped, as investors took profits from a rally that had pushed bitcoin close to $US50,000.

It fell as much as 5.6 per cent to $US45,914 in Asian trading hours after having posted a peak of $US49,714.66 on Sunday, while rival crypto ethereum slid more than 8 per cent.

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Reuters

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    Original URL: https://www.afr.com/markets/currencies/bitcoin-approaches-us50-000-as-wider-adoption-fuels-record-rally-20210215-p572if