Bitcoin, the world’s biggest and best-known cryptocurrency, had dropped 7.37% to $32,094.44 on Friday, losing $2,554.88 from its previous close.
Experts reveal that Bitcoin is down 50.5% from the year’s high of $64,895.22 on April 14.
Ether, the coin linked to the ethereum blockchain network, dipped 6.97 % to $1,850.91 on Friday, losing $138.72 from its previous close, Reuters report.
Meanwhile, a month ago, Bitcoin suffered a huge downturn below the $40,000 mark.
This came after China announced that it was banning financial institutions and payment companies from providing services related to cryptocurrency transactions,
China also issued a warning to investors against speculative crypto trading.
Following China’s anti-cryptocurrency directive, Bitcoin plunged by about 9% to as low as $38,940.04, even slipping below a key 200-day moving average, Reuters report.
