U.S. Mid-Session Report: Today’s Cryptocurrency Trade
Shain Vernier • 2 min read
The cryptocurrency markets remain in the news, led by the industry benchmark Bitcoin (BTC). Values keep exploding for BTC. Currently, BTC is nearing all-time highs with a price approaching $5000. The coming October 25 Bitcoin “fork” is enticing investors to get long, with the hopes of realizing exponential gains through the creation of Bitcoin Gold (BTG).
Will Bitcoin Gold (BTG) Drive Classic Bitcoin (BTC) To New Heights?
Cryptocurrencies are relatively new assets. Events such as “forks” and the subsequent creations of alternate Bitcoin products are somewhat mysterious. Be sure to secure the services of a brokerage with industry-specific knowledge to enhance your venture into the cryptocurrency market.
Today’s Movers And Shakers
Amid the pending FOMC release, many traders are focussing on the cryptocurrency markets instead of the forex. Here is today’s action:
Product Price 24 Hour Performance
Bitcoin (BTC) $4858.00 -0.13%
Ethereum (ETH) $300.00 -1.57%
Litecoin (LTC) $50.75 -0.75%
Ripple (XRP) $ 0.26 +1.78%
Bitcoin Cash (BTH) $313.70 -0.75%
Bottom Line: Bitcoin is stealing the thunder from the rest of the cryptocurrency markets. The big loser of the coming BTC “fork” appears to be Bitcoin Cash, which is down $60 over the past week. However, other “altcoins” are also struggling in comparison to BTC.
Before you jump in with both feet, check out the trading signals page at FX Leaders for innovative ways to engage these exciting markets.