Bitcoin plunges 17%

Takeaways:

Bitcoin plummeted as much as 17% on Monday, its biggest single-day decline since March.

Etherium

The sharp decline comes after bitcoin hit a record high of $34,792.47 on Sunday. The cryptocurrency had soared 59% since the start of December and 305% for full-year 2020.

Some analysts said that after the stellar gains of the last month, some crypto coins such as bitcoin and Ethereum were due a downward correction.

Yet Ethereum soared by as much as 22% on Monday as bitcoin faltered.