Bitcoin drops 7.37% to $32,094.44, losing $2,554.88

Bitcoin dropped 7.37% to $32,094.44 on Friday, losing $2,554.88 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, 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.