Bitcoin drops 1.6% to below $20,000

A neon logo of cryptocurrency Bitcoin is seen at the Crypstation cafe, in downtown Buenos Aires, Argentina May 5, 2022. Picture taken May 5, 2022. REUTERS/Agustin Marcarian/File Photo

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Aug 27 (Reuters) – Bitcoin was off 1.63% at $19,920 by late afternoon in Europe on Saturday, down $330 from its previous close.

Bitcoin, the world’s biggest and best-known cryptocurrency, is down 58.7% from the year’s high of $48,234 on March 28.

Ether , the coin linked to the ethereum blockchain network, dipped 2.76 % to $1,467.2 on Saturday, losing $41.60 from its previous close.

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Reporting by Akriti Sharma in Bengaluru

Our Standards: The Thomson Reuters Trust Principles.

source: reuters.com