The cryptocurrency market is recovering after steep falls seen in recent days. The greatest loser of yesterday’s sell-off has gained so far today. Bitcoin (BITCOIN on xStation5) has gone up over 5.5%, and Ethereum (ETHEREUM on xStation5) has risen nearly 6%. However, the scale of increases could be described as moderate in comparison to huge losses seen previously. Despite today’s gains the capitalization of the whole market sits just around the $150 billion handle. Note that it started the month with value above $200 billion.
BITCOIN collapsed to below the $4300 handle, but cryptocurrency bulls are trying to rebound somehow on Wednesday. Today’s candlestick reflects gains following deep declines of recent days. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appToday’s newsflow concerns two crypto-related noteworthy reports. Firstly, Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, announced the launch of its Bitcoin futures product is postponed to January 24, 2019 from December 10, 2018. The physically settled daily futures contract for Bitcoin was unveiled in August by the ICE, and it quickly gathered a lot of attention.
The second piece of news comes from Singapore where the Monetary Authority of Singapore (MAS), the Singapore’s central bank, declared that it completed the new regulatory framework for payments services in this country, now including cryptocurrencies. The new bill “will provide a more conducive environment for innovation in payment services, whilst ensuring that risks across the payments value chain are mitigated”, the MAS reported in a press release.
ETHEREUM has experienced significant gains so far today. The cryptocurrency, which became third largest virtual currency yesterday, is trading around the $135 handle at press time. Source: xStation5
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