Bitcoin, Ethereum, Ripple: Prices, Charts and Analysis
- Bitcoin (BTC) jumps 10% then gives it back quickly. Tight trading ranges now dominate.
- Fidelity launching a new investor trading and custodial exchange.
Tether (USDT) Sell-Off Sparks Concerns
Tether (USDT) traded down to $0.94 in early trade Monday, sharply below its 1:1 US dollar peg, while BTC lead the cryptocurrency 10% higher. These sharp gains were soon given back, leaving the market stuck in a low volatility rut. Trading ranges – on the four-hour chart - are very tight with no clear direction for the coin, a sign that a sharp breakout may be on the cards.
Investment giant Fidelity announced Monday that it would shortly be launching a trading and custodial platform for institutional customers. The marekt took this news in its stride, which is surprising as market participants continue to look for credibility from large institutions.
Bitcoin (BTC) Daily Price Chart (April – October 17, 2018)
We look at Bitcoin, and a variety of other cryptocurrencies, at our Weekly Cryptocurrency Webinar every Wednesday.
Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars
If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you begin your journey with our Introduction to Bitcoin Trading Guide.
What’s your opinion on volatility? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.
--- Written by Nick Cawley, Analyst.
