Bitcoin drops 7.9% to $61,842

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Bitcoin fell 7.9 per cent to $61,842 at 9pm GMT on Saturday, losing $5,308 from its previous close.

The world’s biggest and best-known cryptocurrency is down 16.2 per cent from the year’s high of $73,794 on March 14.

Read: Bitcoin hits record above $72,000 as demand frenzy intensifies

Ether, the coin linked to the Ethereum blockchain network, fell 9.18 per cent to $2,930 on Saturday, losing $296.1 from its previous close.