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Cryptocurrencies Give Ground, Reversing Monday Gains

Cryptocurrency NewsSep 11, 2018 10:24
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Cryptocurrencies resumed their slide on Tuesday morning in Asia

Investing.com – Cryptocurrencies resumed their slide on Tuesday morning in Asia, with most of them giving up any ground they made up Monday. Bitcoin, the largest and best known cryptocurrency, was the sole exception.

Bitcoin up 0.83% to $6,359.40 as of 12:13AM ET (04:13 GMT) on the Bitifinex exchange. Bitcoin also rose on Monday.

Ethereum, which had jumped almost 5% a day earlier, was down 1.79% on Tuesday to $195.34.

Ripple was also down 1.61% to 0.26946 on the Poloniex exchange a day after gaining 2.6%.

Litecoin was down 1.6% to $54.130, giving up gains from a day earlier.

The cryptocurrency market, with the exception of Bitcoin, resumed its bearish stance Tuesday.

Investors pulled back after announcement by the U.S. Securities and Exchange Commission (SEC) on Sunday that it had suspended trading in two products that track cryptocurrencies due to market confusion. Trading in Bitcoin Tracker One and Ether Tracker One will be suspended at least until September 20. Both are listed on Nasdaq.

But the drops in prices may create opportunities. A new survey by securities trading platform SharesPost in July found that 72% plan to increase holdings over the next year. The survey tapped 2,490 retail investors and 528 accredited investors.

Cryptocurrencies Give Ground, Reversing Monday Gains
 

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