Investors are taking a Bitcoin breather

LONDON — The price of bitcoin is dipping on Tuesday morning, after big gains over the last few days.

Bitcoin is down 1.28% against the dollar to $US4,282.77 at the time of writing (7.45 a.m. BST/2.45 a.m. ET).

The dip follows several days or big gains and record gains. Bitcoin broke through $US4,000 a coin for the first time early on Sunday morning, a new record high, and continued to rise throughout Monday and early on Tuesday morning, peaking at $US4,339.79. Investors are likely taking some profit after the rapid rise.

Elsewhere, Bitcoin Cash, the cryptocurrency that was split off from Bitcoin at the start of the month, is also retrenching. Bitcoin Cash is down 1.32% against the dollar to $US299.45 at the time of writing.

Ethereum, the other major cryptocurrency by market capitalisation, is sliding too. Ethereum is down 2.20% against the dollar to $US292.51.

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