Bitcoin slips on profit-taking but on track for biggest gain in 8 months

Bitcoin fell on Wednesday to its lowest in a week and a half, taking losses since its all-time high to over 13% - though the digital currency is still on track for its best month since February. Bitcoin, the world's largest cryptocurrency, fell as much as 3.7% to $58,100, its lowest since Oct. 15.


Reuters | London | Updated: 27-10-2021 15:28 IST | Created: 27-10-2021 15:15 IST
Bitcoin slips on profit-taking but on track for biggest gain in 8 months
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Bitcoin fell on Wednesday to its lowest in a week and a half, taking losses since its all-time high to over 13% - though the digital currency is still on track for its best month since February.

Bitcoin, the world's largest cryptocurrency, fell as much as 3.7% to $58,100, its lowest since Oct. 15. It has lost 13% since it hit an all-time high of $67,016 on Tuesday.

Bitcoin's losses were down to traders taking profit from its recent rally, said Tony Sycamore, analyst at Australian investment platform City Index. The digital currency has notched up gains of almost 35% so far this month, which if maintained would be its best performance in eight months.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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