Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Bitcoin not so volatile, but there’s rarely a quiet day for cryptocurrency

Bitcoin barely moved, by its own standards, but that doesn't mean nothings happening in the cryptocurrency space.
Bitcoin trading
Online brokers are now offer Bitcoin futures

Nudging only 0.6% in a day, down to US$14,653, makes it an incredibly dull day for usually volatile Bitcoin market, though there’s rarely little to talk about when it comes to the seemingly burgeoning cryptocurrency space.

There’s early Facebook and Pay Pal investor Peter Thiel , for example, who has steered between US$15mln to US$20mln into Bitcoin, according to a report in the Wall Street Journal. Given the apparent pull back in the Bitcoin price it may be turn out to be another deftly timed move for the famed Silicon Valley investor – or maybe it won’t.

Thiel, of course, is far from the only investor getting involved in Bitcoin recently and as proxies in the regular financial system are opening up the crypto market is seemingly opening up, even to retail investors.

US online broker E-Trade Financial is now started to offer its customers access to the CBOE Bitcoin futures, which were set up by the derivatives exchange last month.

E-Trade customers are required to put down 80% margin for trades, which is in line with the broker's other CBOE futures products.

Elsewhere, while Bitcoin is having a quieter time, the values of other cryptocurrencies were rising.

On Tuesday, the Ethereum virtual currency logged a new record high above US$900 (today it is priced at US$887), meanwhile, the Ripple digital currency has soared to a total market capitalisation in excess of US$100bn, making it the second most valuable of the cryptos – albeit, that’s still less than half the value of Bitcoin.

Ripple’s coin, known as XRP, has a much lower per unit price compared to some of the others, presently in the region of US$2.50, though it was only recently marked at less than a US cent.

The growing cryptocurrency is also notable for its closer ties to the existing financial services establishment, indeed it was developed by the banks, and it is being used for cross border payments between major institutions such as UBS, Santander, Bank of America and American Express.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full BLOCK profile View Profile

Cryptocurrency and Blockchain Timeline

Related Articles

Vault online software in the cloud image
August 08 2018
The company has achieved strong sales on the back of its risk and safety management software systems.
An energy plant
August 13 2018
The exclusive contract will run its course for two years and includes a one -year extension option
September 18 2018
New business from the likes of Vodafone and GSK and a strong contribution from The Corner, which it acquired in December, meant revenues jumped 70% in the first half

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use