Why Are Cryptocurrency Prices Falling Today? Here's Why The Crypto Market Is Going Down

Bitcoin at one point plummeted to $58,703. Dogecoin also saw a fall. According to market experts, the fall in crypto prices was due to massive profit booking.

The top cryptocurrencies fell sharply on November 16. Bitcoin at one point plummeted to $58,703. However, it later recovered and was trading at around $60,066. Ether also saw a down surge and was trading at 7.88% on discount ($4,340) than its price 24 hours ago.

Dogecoin and Shiba Inu also saw a fall and were trading at 5.66% and 4.75% lower respectively. The value of Cardano and XRP also fell. Binance Coin also fell to $607.23, declining by 7.23%. Meanwhile, in contrast, the Tether rose by 0.09% to $1 in the past 24 hours.