Bitcoin Trading is Ranged in Here
$BTCUSD,$ETHUSD, $CME, $CBOE
Bitcoin was the lone winner Wednesday, ending its recent skid.
The #1 digital currency bitcoin BTCUSD, -2.56% spent the last 24 hours trading on either side of $8,000 and last traded at: 7,675.1748,-213.79, or -2.71% as of of 5:45a BST, the market is open.
Despite coming off a string of losing days, the overall decrease in price volatility is a good sign for digital currency advocates, said 1 analyst.
“At this stage price doesn’t really matter. The more sideways movement will increase the likelihood of adoption,” said the senior market analyst at eToro.
“We are seeing a pickup in day traders, more people playing the range, which helps the adoption of cryptocurrencies,” he said of the increasing interest despite the overall market downtrend.
Bitcoin and the other major currencies are in the Red.
Ether, which shed more than 7% Tuesday, continued to fall, trading at $449.62, down 1.7%.
Bitcoin cash fell 3.3%, trading at $861.18,
Litecoin last traded at $133.04, down 4.4% and
Ripple is down 1.1% at 58 cents.
Futures had a quiet Wednesday.
The Cboe Global Markets April contract XBTJ8, -2.41% finished unchanged at $7,890 and
CME’s March contract BTCH8, -2.29% closed at $7,875, down 0.3%.
Ripple, the creator of the Ripple payment protocol, announced late Tuesday it was donating $29-M in XRP to American teachers. The donation was made through DonorsChoose.org, which gives teachers access to purchase material for classroom initiatives.
“Every Rippler, from the executive team to our newest hires, started their careers in one place—the classroom,” said Ripple in a press release.
Have a terrific Easter weekend.