Forex Morning Briefing: Bitcoin Opens 2018 Soft
For the 1st time since Y 2015, Bitcoin, the world’s biggest the cryptocurrency, began a New Year by declining, extending its slide from a record $19,511 reached on 18 December 2017.
On Monday, he virtual coin traded at $13,624.56 as of 5:00a in New York Monday, down 4.8% from Friday.
That is a fall from the $14,156 it hit Sunday.
The cryptocurrency is soft in early Asian trading Tuesday.
Bitcoin got off to a stronger start last year, and then kept that momentum going, helping to create a global frenzy for cryptocurrencies.
It rose 3.6% on the 1st day of Y 2017 to $998 and finished the year up more than 1,300%.
That rally drew a growing number of competitors and last month brought Bitcoin to Wall Street in the form of futures contracts at Chicago’s Merc and the CBOE
It reached its all-time high on 18 December after CME Group Inc.(NASDAQ:CME) debuted its derivatives agreements, which some traders said would encourage Short position-taking.