Crypto valuations held in the green – break-out hopes on hold
Bitcoin managed to keep out of the red through Thursday’s trading despite some reports of crypto off-loading. Some of the negative sentiment was re-traced back to the chief exec of Galaxy Digital Capital Management, Mike Novogratz. In an interview with CNBC yesterday Novogratz dampened expectations of a bitcoin price climb above $9,000.
Valuation hopes reined in but institutional support resilient
The ex fund manager may be feeling chastened: almost a year ago he was predicting a bitcoin price surge to $45,000. He still maintains the drift of institutional money towards the crypto space for the next year.
Indeed a new report from Diar claims venture capital companies have poured close to $4bn into cryptos and blockchain operators in 2018 – a 280% rise compared to 2017.
Still, bitcoin was more than 1.2% up mid-afternoon at $6,579. Elsewhere EOS saw a 2.14% climb to $5.70, outpacing ethereum, up +1.7% to $224. XRP was up 1.48% while ADA saw a 1.29% lift.
As of 3pm on Thursday afternoon prices were as follows:
- Bitcoin +1.2% at $6,579
- Ethereum +2.2% at $224
- Ripple XRP +1.5% at $0.54
- Bitcoin Cash +1% at $520.5
- Eos +2.2% at $5.70
- Stellar lumens +0.7% at $0.25
- Litecoin +1.4% at $58.54
- Tether -0.02% $1
- Cardano +1.5% at $0.08
- Monero +0.8% at $114.72