Bitcoin pulls back from brink of $50,000

SINGAPORE (Reuters) – Cryptocurrencies slid during Asian trading hours on Monday, with bitcoin dropping more than 5%, as investors took profits from a record-breaking rally.

Bitcoin fell as much as 5.6% to $45,914 and rival cryptocurrency ethereum dropped more than 8% to $1,655. Both had hit record highs in recent days as the asset class gains more mainstream acceptance.

(Reporting by Tom Westbrook; Editing by Kim Coghill)