Bitcoin, known as the largest cryptocurrency in the world by capitalization was down on Friday by 7.6%. Its price fell from $39,053 on Thursday to about $35,453 on Friday. That was about a 9.2% slip.
David Russell, the vice president of market intelligence at brokerage Tradestation Group retorted that it could be difficult for crypto investors this weekend. The reason for his statement is not far-fetched. Judging from the sudden declination in Bitcoin value over the past few days, it is safe to say that he is right. According to David, the mid-May sell-off has left some technical scars which may need ample time for investors to heal. Right now, Bitcoin is under $40,000 and, it is dragging on the space.
Ether, on the other hand, which is popularly known as the second-largest cryptocurrency by market capitalization slipped a bit over the preceding 24 hours. Ether which traded around $2,506, slipped at about 9.3%. On Thursday, it dipped from $2,784 to $2,443 after which it settled higher to $2,506 on Friday. In a nutshell, Ether has not maintained a particular slipping or dipping order. It has been fluctuating as of the present.