Bitcoin saw a major drop of $60,000 Tuesday, Nov. 16.
On Tuesday China gave cryptocurrency miners a warning.
President Joe Biden also signed infrastructure bill, which has created a law that puts tax regulations on cryptocurrency.
Related: Want to trade in crypto? Here is how you begin
Bitcoin dropping impacted Ether and Dogecoin, causing them to dip as well.
In other news, Shiba Inu went up on Tuesday after AMC announced they would accept the coin as payment soon.
Related: Cryptocurrency: Will Shiba Inu finally hit $1 before the end of the year?
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