During Thursday, the market price of Bitcoin approached $ 43,000. Before the weekend, however, the most popular cryptocurrency came under selling pressure, as did other digital currencies. A bad mood from the stock exchanges spilled over into the market.
Bitcoin is not the only one falling
Bitcoin, Ethereum and most other cryptocurrencies experienced a dramatic drop in their values on Friday. Bitcoin failed to stay above $ 40,000 and was traded between 39.5 and 40,000 for a majority of the last weekend. This sharp fall happened, even though its price was close to $ 43,000 on Thursday. In less than two days, Bitcoin lost almost eight percent. The second most traded cryptocurrency, Ethereum, also wrote off over seven percent.
Development on the stock market
The cryptocurrency market changes are caused by a bad mood of investors on the stock exchanges. Wall Street and other markets fell the most in months during Friday’s trading. The shares hit sales due to the fact, that publicly traded companies have gradually been announcing their financial results for the first quarter of this year. For example, shares of the Netflix streaming service have lost more than a third of their value over the past five days because of an outflow of subscribers.
