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. .
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