Bitcoin falls back below $60,000 for first time since Nov 1

Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/File Photo

LONDON, Nov 16 (Reuters) - Bitcoin fell below $60,000 for first time since Nov. 1 on Tuesday, while the cryptocurrency ether also dropped sharply.

Bitcoin -- which last week hit a new record high of $69,000 -- fell to as low as $58,600, its weakest in 19 days, and was last down around 7% on the day . It is down 14% from that peak.

Ether, the world's second biggest cryptocurrency, fell to a 19-day low of $4,109.03 and was last down around 9.7% on the day .

If sustained, the move will be both cryptocurrencies' biggest daily fall since September. read more

Reporting by Elizabeth Howcroft; Editing by Saikat Chatterjee

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