SINGAPORE, (Reuters) –, the most well-known and largest cryptocurrency in the world, dropped more than 4% Tuesday, as it continued a slide that began during a week that included an upgrade of its blockchain.

Bitcoin dropped to $60,350, its lowest point for the day. This is after losses of $69,000 on Nov. 10, and more than 11% from an all-time high of $69,000.

Ether, which is the second largest cryptocurrency in terms of market value was at $4,355.4, fell 4.5%

According to cryptocurrency experts, there didn’t seem to be news that drove the decreases and instead the movements were driven by profit-taking after the spike.

“There is little news. It is just pure selling of spot, with some additional short-selling. Matthew Dibb is chief operating officer of Stack Funds in Singapore, a crypto asset manager.

Bitcoin’s price has more than doubled in June thanks to widespread adoption of cryptocurrency and more recently the launch of futures bitcoin exchange-traded funds (US)

Taproot was a major upgrade that allowed the cryptocurrency’s blockchain to handle more complex transactions. It could expand the use of virtual currencies and allow it to compete with ethereum in smart contract processing. Smart contracts, which are self-executing transactions that depend on preprogrammed inputs, can be used to execute these transactions.