Bitcoin: down at $40,000; more losses ahead?
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Cryptocurrencies generally stand still, as market cap keeps to $220 billion
On Friday, crypto assets were nearly intact, proceeding with what’s been a subdued week for the crypto market.
On the Kraken cryptocurrency exchange, the currency pair BTC/USD hit $6,547.89, declining by about 0.1% since Thursday.
The most popular digital coin is actually demonstrating one of its quietest weeks, fluctuating within a $250, or in other words 3.5% range. Well, as it stands early on Friday, it appears to be the lowest volume week since last year’s February. It follows from Bitfinex data disclosed by Trading View.
The overall value of all crypto assets last amounted to $218 billion, as follows from data provided by CoinMarketCap.
Delivering a speech at the Delta Summit in Malta, the founder of deVere Group as well as a crypto proponent, Nigel Green told that skeptics are undermining the whole potential of the crypto industry. He told that trust in the sector is often compromised by demagogues, making unsubstantiated and wild claims, and selling themselves out to the highest bidder, no matter what consequences and facts are. He added that these are high-profile financial institutions and traditionalists, who are probably interested in preserving the status quo or have no understanding of the unprecedented shift, which currently occurs.
The collective group of crypto assets other than Bitcoin, also dubbed altcoins, demonstrated a quiet start on Friday. The currency pair ETH/USD decreased by 0.2% being worth $221.39. Besides this, the currency pair BCH/USD inched down by 0.7% trading at $511.10. The currency pair LTC/USD headed south by 0.6% reaching $57.95. As for XRP/USD, this currency pair hit 52 cents, losing 2.9%.
Bitcoin futures were quiet on Friday. As a matter of fact, October delivery XBTV8 futures headed south by 0.1% reaching $6,535, while October delivery BTCV8 futures lost 0.2% hitting $6,545.
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