Etherium News

Bitcoin Undergoes Subdued Trade as Traditional Assets See Volatility

© Reuters.
© Reuters. – Bitcoin traded slightly lower on Wednesday in uncharacteristically subdued trade, while other traditional assets underwent big moves.

, the largest alt coin by market cap, dipped 0.3% to $11,708.6 on the Index by 11:19 AM ET (15:19 GMT).

Total cryptocurrency market capitalization still increased to $308.26 billion, compared to $301.96 billion a day earlier, despite the drop in its largest member and a selloff in its closest rivals.

In other individual crypto trades, fell 2.1% to $224.05, lost 1.4% to $0.31088, declined 1.5% to $337.18, while traded down 3.7% to $91.506.

Trading in bitcoin, which is accustomed to the volatility associated with large percentage moves, seemed subdued when compared to the of more than 5%.

Both the U.S. and yields were tumbling as bond prices soared. Central banks in , and all by a wider-than-expected margin as they struggled to offset a global slowdown.

Concerns over economic weakness worldwide sent investors running to safe-havens such as bonds, , the or the , while risk-off sentiment sent the .

Although the debate over bitcoin’s value as a store of value remains unresolved, some analysts argue that volatility in traditional financial markets can benefit cryptocurrencies as an alternative asset.

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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