13. February 2018 17:29 GMT

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Stable Markets

13. February 2018 17:29 GMT – Over the last 36 hours or so, the CC market has been surprisingly calm. Bitcoin was eyeball level at about $8’700 for the first half and dropped slightly to about $8’550 the second half. With the exception of one selling spike and a smaller buying spike in the front end, volume was restrained and reasonably consistent. Bitcoin futures were on parity with the market values at $8515. On a current 24-hour basis, Bitcoin and ethereum were consistent with what we eyeballed, -2.2% for BTC and -2.4% for ETH.

Ripple fell more than 5.3% on the news that ripple and the UAE stock market have agreed upon a joint venture in what is considered a win-win situation. Ripple will gain some stability (and some acceptability) and the UAE market will gain some solidity and more traffic – at least that’s the propaganda. The top ten CC’s performances were mixed, from ripples -5.3% to +5.0% for Stellar. In an earlier development, NEM dropped out of the top ten last week, presumably as a result of the theft two weeks ago. Its place was taken by IOTA which moved up into the top ten. There are only 4 currencies in double $ Billions, Bitcoin ($145B = 35%), Ethereum ($82B = 20%), ripple ($40B = 10%), and Bitcoin Cash ($21B = 5%). The total market cap is $416B shared among 1552 currencies.

There was not much excitement in other areas either – the dollar is down slightly (.5%) against the EUR but stable against the CHF. The Dow Jones was down about 0.3% and the European markets about 0.7%. All in all, not much excitement.


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