According to Wikipedia, the original run of Bleach anime in Japan has finished since March 2012. It seems that you follow the English dub, which finished airing on November 1st, 2014, so you don't realize that it stopped airing in Japan long ago.
As for the reason, from the posts I have seen on the Internet, there seems to be no official reason given for the cancellation of the anime series. (Usually, the official reason will be cited before people give their own interpretation or speculation of the situation, but I don't see any).
This page by edas88 gives 2 theory as for why the series was cancelled:
The anime was sub-par and had too many fillers1.
I don't know if this source for TV anime series viewership rating is reliable or not, but viewership for Bleach started out at around 5%, gradually dropped but still managed to get 2-3% up to the point of Aizen's defeat, but it reduced further and sustained at 1-2% till the point it was cancelled.
Compared to the other two series in the Big 3, One Piece sustained at around 10% viewership over the same period, and Naruto at 7-9% at the beginning, but still got 3-5% at the point Bleach anime was cancelled.
1 Wikipedia says that 111 of all 366 episodes are fillers.
The anime stopped to wait for more material from the manga, instead of continuing with filler episodes as what they had been doing.
On this side, at the time of writing, there are some speculations that the anime will restart production in 2015, since the manga is expected to end in 2015.
At the time of writing (May 27th, 2015), the manga has not ended its serialization yet. According to mangaupdates, chapter 627 was released on May 21st, 2015 by scanlation groups. There is no news headline regarding the imminent end of the serialization (except that it is confirmed to end in 2015), so I think it is going to continue for at least a few months.