The Crypto Sector Maintained Momentum, Bulls in Charge

The Crypto Sector Maintained Momentum, Bulls in Charge

The Crypto Sector Maintained Momentum, Bulls in Charge


Thursday, the cryptocurrency sector maintained its Bullish momentum, with most major currencies trading up by more than 3% on the day.

Below is a look at what moved the cryptocurrency market Thursday, as follows;

Goldman Sachs Group, Inc (NYSE:GS) officially announced it’s opening a cryptocurrency trading desk.

Despite enthusiasm for blockchain technology among cryptocurrency investors, a new survey by Gartner revealed very few CIOs in the corporate world are really considering utilizing the technology that underlies many cryptos.

Among those surveyed, just 1% of CIOs said their company had already adopted some form of blockchain technology, 8% said they’re planning on experimenting with blockchain tech in the near future and 77% said they have no interest in blockchain and/or no intention of exploring its use, for now/

Reddit cofounder Alexis Ohanian predicted Ethereum (ETH) prices would hit $15,000 by the end of Y 2018 and Bitcoin prices would reach $20,000 this year.

Ethereum prices rose 12% Thursday after Mr. Ohanian said he is Bullish Ethereum because “people are actually building on it.”

Price Action

Below is how several Top crypto investments fared Thursday.

Prices as of 3:45p EDT and reflect the previous 24 hours.

  • Bitcoin gained 5.7% at 9,654
  • Ethereum gained 12.4% at $761
  • Ripple gained 3.6% 88c
  • Bitcoin Cash gained 2.9% at $1,492

The Crypto Bulls are in charge.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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