Bitcoin Drops Below $60K, Other Cryptos Fall

Bitcoin Drops , Below $60K, , Other Cryptos Fall.

On Nov.

16, Bitcoin dipped below near-record highs during London time morning trading.

.

At one point, it hit $58,702 before recovering to around $60,066 at 8 a.m.

ET.

Ether, which is the second-biggest cryptocurrency behind Bitcoin, dropped to $4,236.

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CNBC reports that the cause for the sudden drop is unclear.

Many cryptocurrencies hit all-time highs this month.

On.

Nov.

10, Bitcoin reached $68,990.90.

.

The next day, ether hit $4,851.

Vijay Ayyar, head of Asia Pacific at cryptocurrency exchange Luno, told CNBC that the drop is probably nothing to worry about.

I think we’re seeing a healthy pullback after a 7 week rally from 40K to 69K, which is normal in an upward trend, Vijay Ayyar, head of Asia Pacific at cryptocurrency exchange Luno, to CNBC