Bitcoin falls as much as six percent as it pulls back from record high

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Cryptocurrency bitcoin dropped as much as six percent in Asia trade on Tuesday and was trading around $52,000 as it pulls back from record highs following a long and sharp rally.

Bitcoin hit a low of $50,848 in the session following a wild ride on Monday where it traded in a $10,000 range. It’s up nearly 90 percent from the year’s low of $27,734.

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Ether, the coin linked to the ethereum blockchain, also dropped more than five percent and last bought $1,707, down almost 17 percent from last week’s record peak.

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