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

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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