Bitcoin, Ethereum Edge Higher, Dogecoin Slips: Analyst Says Apex Coin…

Bitcoin, Ethereum Edge Higher, Dogecoin Slips: Analyst Says Apex Coin…

Facebook
Twitter
LinkedIn

Major coins were trading slightly higher on Wednesday night, even as global cryptocurrency market The cap fell 0.6% to $963.8 billion as of 8:27 p.m. EDT.





Price development of major coins
coin 24 hours 7 days Price
Bitcoin BTC/USD 0.2% 4% $20,250.79
ether ETH/USD 0.4% 1.85% $1,363.45
Dogecoins DOGE/USD -0.6% 7.4% $0.065





Top 24-hour Gainers (data from CoinMarketCap)
cryptocurrency 24-hour % change (+/-) Price
Ethereum name service (ENS) +9.3% $17.46
helium (HNT) +6.4% $5.62
Trust wallet token (TWT) +6.26% $0.975

See also: How to get free crypto

Why it matters: Bitcoin and Ethereum were trading slightly in the green as a two-day stock market Wednesday night Rally ended. At the time of writing, US stock futures were also seen slightly higher.

The ISM Services PMI, an index measuring the direction of economic trends in the service sectors, fell to 56.7 in September from 56.9 in August exceeded market estimates.

“The economy is too strong for the Fed to turn around. The strong start to October is over after both a private payrolls report and service sector data reminded investors how strong some parts of the economy remain,” he said Edward Moyaa senior market analyst at OANDA.

Speaking on Bitcoin, Moya said: “The strong start to October is over and markets were quickly reminded that the Fed’s pivot calls were once again premature. Traders were quickly reminded that the economy is not falling off a cliff and that the Fed may need to remain aggressive with its rate hike cycle next year.”

“Bitcoin fundamentals are still supporting healthy consolidation here, and should remain so unless we see a double dose of robust hiring on Friday and much hotter-than-expected inflation next week.”

cryptocurrency trader Michael van de Poppe said Bitcoin is “here in a long zone after a correction.” He tweeted: “Definitely…



Source story

More to explorer