Bitcoin prices are trading lower Friday, on track for back-to-back losing sessions for the first time since late October.
The world’s largest digital currency is creeping towards its lowest level of the week trading at $6,379.96, down 0.9% since Thursday at 5 p.m. Eastern Time on the Kraken exchange. A move below $6,330 for bitcoin BTCUSD, -1.34% would mark a new low for the week.
For Charles Hayter, co-founder of CryptoCompare it’s business as usual for crypto participants. “The $6k mark remains fairly solid, volumes are on the lighter side but we are still seeing some positive steps, albeit slowly,” he said, citing Fidelity’s decision to open a cryptocurrency trading business for institutional investors.
Hayter added that after the hype cycle of 2017, the market is slowly working its way out of the 2018 negative cycle.