Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Bitcoin Pushes Higher, Bitcoin Cash; Ethereum Lagging

Published 2017-10-19, 07:05 a/m
Updated 2017-10-19, 07:08 a/m
© Reuters.  Bitcoin pushes higher, Bitcoin Cash; Ethereum lagging

© Reuters. Bitcoin pushes higher, Bitcoin Cash; Ethereum lagging

Investing.com - The price of the digital currency bitcoin pushed higher on Thursday, while bitcoin offshoot Bitcoin Cash and Ethereum remained on the back foot.

On the U.S.-based Bitfinex exchange, Bitcoin was trading at $5,690.00 by 07:04 AM ET (11:04 AM GMT), having opened at $5,574.80.

Prices slumped to a one-week low of $5,114.30 on Wednesday as fears over a regulatory crackdown on Initial Coin Offerings and reports that South Korea is preparing to tax bitcoin use spooked investors.

The Commodity Futures Trading Commission (CFTC) – an independent U.S. government agency that regulates futures and option markets – said that it supported the Security Exchange and Commission findings that virtual tokens used in ICO’s are securities, fueling investor fears over the possibility of regulatory action.

Bitcoin hit a peak of $5,876.90 on Sunday, the highest level in its nine year history, before retreating. Bitcoin started the year near $1,000 and at current prices has a total market capitalization of around $94 billion.

Meanwhile, Bitcoin Cash was last at $337.00, almost unchanged for the day.

Bitcoin cash has a total market cap of around $5.6 billion at current prices, making it the fourth most valuable cryptocurrency.

Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was down around 1.78% to $308.00.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.