Bitcoin tumbles 9.95% to $48,397.56

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Illustration shows representation of cryptocurrency bitcoin

(Reuters) – Bitcoin dropped 9.95% to $48,397.56 at 18:02 GMT on Saturday, losing $5,346.13 from its previous close.

Bitcoin, the world’s biggest and best-known cryptocurrency, is down 29.9% from the year’s high of $69,000 on Nov. 10.

Ether, the coin linked to the ethereum blockchain network, dropped 4.67 % to $4,025.67 on Saturday, losing $197.13 from its previous close.

(Reporting by Juby Babu in Bengaluru; Editing by Daniel Wallis)

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