Bitcoin down almost 50% from year’s high as sell-off continues

Bitcoin fell 13% on Sunday after the world’s biggest and best-known cryptocurrency suffered another sell-off. The world’s most popular cryptocurrency is down 50% from the year’s high of $64,895.22 hit on April 14. Bitcoin fell to $32,601 at 1800 GMT (2 p.m. ET), losing $4,899.54 from its previous close. It hit a high for the year of $64,895.22 on April 14.

Ether, the coin linked to the ethereum blockchain network, dropped 17% to $1,905 on Sunday, losing $391.31 from its previous close.

Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment.