MOSCOW, November 13. /TASS/. The price of Bitcoin dropped below $70,000 first time since August 20 of this year, according to Binance platform data.

As of 5:52 a.m. Moscow time (2:52 a.m. GMT), the cryptocurrency lost 2.18%, trading at $69,900.

By 5:57 a.m. Moscow time (2:57 a.m. GMT), Bitcoin recovered to $70,271 (-1.66%). At the same time, Ethereum, the nearest rival, lost 1.41% to $1,991.23.

Bitcoin is a cryptocurrency invented in 2008 by an unknown person or a group of people using the name Satoshi Nakamoto. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without intermediaries.