Bitcoin Retreats From All-Time High, Ether Follows

Posted on by American Coins & Gold

Bitcoin Retreats From All-Time High, Ether Follows
Bitcoin is down 5% in the last 24 hours after peaking at an all time high of around $68,950 on Wednesday.Bitcoin’s all-time high was reached just after the U.S. Consumer Price Index (CPI) report showed higher-than-expected inflation in October. The U.S. Department of Labor said in the report that the CPI rose 6.2% in October versus 12 months prior, the fastest pace in three decades.At 21:00 coordinated universal time on Wednesday, the price of bitcoin dropped to $62,000, just a few hours after trading at around $68,950, representing a 10% decline.The shakeout appeared to coincide with a turn lower in…