Bitcoin (BTC) aligned with the CMI; its price dropped 1.77%. Trading activity was muted again and overall volume trailed bitcoin’s 20-day moving average. The decline marked the fifth consecutive day and ninth of the last 10 of lower-than-average volume. The exception occurred on Oct. 13, when trading spiked with the most recent release of the Consumer Price Index.
Ether’s (ETH) performance trailed the CMI, its price down 2.5%. ETH’s trading volume was also below average, falling below its 20-day average in eight of the last 10 days. Ether sold off sharply during the 13:00 and 14:00 UTC (9:00 a.m. and 10:00 a.m. ET) hours, as traditional U.S. markets opened. The second-largest cryptocurrency by market capitalization fell below the psychologically important $1,300 mark.
The top altcoin gainers recently were ANKR and XYO Networks’ XYO, which rose 16% and 15%, respectively. The poorest-performing altcoins on the day were JasmyCoin’s JASMY and Vulcan Forged’s PYR token.
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...