Markets in the red! Bitcoin and major cryptocurrencies recorded a significant fall this November 16
Markets in the red! Bitcoin and major cryptocurrencies recorded a significant fall this November 16 By Angel Di Matteo

@shadowargelHand in hand with Bitcoin

, for this November 16 also the main altcoins are going down, with a good part of them registering losses above 10% in the last 24 hours. ***

Bitcoin

approaches USD $60,000 this November 16th

We open our price report for the morning of November 16th highlighting the fall recorded by Bitcoin (BTC

) throughout this day, whose price fell by more than 8% in the last 24 hours and is quoted at the time of publication at about USD $60,072 per unit. According

to data published by our CryptoMarkets section, although the Bitcoin

price has been falling steadily since yesterday, it was just a few hours ago when its price reached the lowest point of the day, at USD $59.016 per unit shortly after 6:00am (New York time) on November 16th. Evolución precio de Bitcoin este 16 de noviembreEvolución precio de Bitcoin este 16 de noviembreBitcoin price performance on November 16

What is the reason for this fall?

According to various published reports, analysts associate the drop seen in the price of Bitcoin and major cryptocurrencies to the signing of the new Infrastructure

Bill by U.S. President Joe Biden.

Critics and insiders point out that this initiative incorporates certain tax filing provisions, which require cryptocurrency exchanges to share information with the Internal Revenue Service (IRS)

about users involved in cryptocurrency trading, providing data on capital gains recorded by them if applicable. <p>According to certain analysts, the reaction seen in the markets is more than commensurate given that many people capitalized on gains following the arrival of Bitcoin and other cryptocurrencies to new all-time highs. Therefore, we would be under a lot of uncertainty at the moment, so this kind of development was to be expected.

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It is very likely that the price of Bitcoin and other major cryptocurrencies are likely to continue to decline in the coming hours, so we recommend readers to trade very cautiously given the uncertainty in the market.

Major altcoins also going down on Nov. 16

Hand in hand with the fall capitalized by Bitcoin, the vast majority of major altcoins are going down for the morning of this November 16.

For today we have cases like Ethereum (ETH), Binance Coin (BNB), Solana (SOL), Cardano (ADA), XRP, Polkadot (DOT), Dogecoin (DOGE), Shiba Inu (SHIB), Avalanche (AVAX), Litecoin (LTC), Terra (LUNA ) and many others, which are down with falls close to or above 10% at this time.

Main losers for this November 16th

Beyond the aforementioned cases, below we review which were the digital currencies with the steepest declines for this November 16:

To buy cryptocurrencies via DiarioBitcoin

If you are one of those who see opportunities and want to buy cryptocurrencies in this moment of special evolution, we remind you that our section CryptoMarkets already has buttons for you to buy your favorite digital currencies.

If you want to buy Bitcoin (BTC ), prefer to buy Ethereum (ETH ) or want to get some Tether (USDT ), you just need to go to our CryptoMarkets and click on the buy button. We recommend everyone to be very attentive as we will soon be incorporating this possibility for a larger number of digital currencies.

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Nuevos botones de compra a través de CriptoMercados

Source: CryptoMarkets, CoinMarketCap

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