Bitcoin Is Back Around $4,000
Bitcoin surged against the dollar last week, breaking through $US4,000 for the first time two Sunday’s ago before peaking at $US4,479.
However, after pausing for breath on Friday, traders have been booking profit over the weekend. As a result, bitcoin has been drifting lower against the dollar.
Bitcoin is down 1.7% against the dollar to $US3,987.27 at 7.50 a.m. BST (2.50 a.m. ET). Despite the dip, the cryptocurrency remains near historic highs.
Elsewhere in the cryptocurrency world, Bitcoin Cash, a new digital currency split off from Bitcoin at the start of the month, is dipping against the dollar after posting big gains over the weekend. Bitcoin Cash is down 5.3% to $US681.53 at 7.55 a.m. BST (2.55 a.m. ET).
Ethereum, the second-biggest cryptocurrency after Bitcoin by market value, is up 5.1% against the dollar to $US323.96 at the same time.