Investing.com – Bitcoin and Ethereum remained on track to notch gains for the month, despite drifting lower on Friday, as investors appeared hesitant to initiate large position amid growing fears that cryptocurrencies are in correction period.
On the U.S.-based GDAX exchange, BTC/USD fell to $2527, down $62.8 or 2.42%.
Bitcoin is set to close more than 10% higher for June, and nearly 300% over the past year, despite a recent pull back from its peak of $3,000.
Ethereum dipped by 5.37% to $294.49, and remained well below its peak of $419.3 achieved earlier in June amid expectations that the digital currency was set to usurp bitcoin as the largest and best capitalized blockchain – a phenomenon referred to as “the flippening”.
At current prices Ethereum has a market capitalisation of about $28 billion, well below bitcoin’s nearly $42 billion.