The Crypto market continues to hold gains around the same levels it reached after a sharp spike on Thursday, April 13, with Bitcoin and Ethereum trading above the $8,000 and $500 levels respectively today, April 17.
The market's rebound into the green comes after a slight drop yesterday, April 16.
Bitcoin, which is back above $8,000, is trading around $8,120 by press time, up around 1.5 percent over a 24 hour period.
Ethereum's price has grown by almost 2 percent on the day to press time, and is currently trading at $515 by press time.
Total market cap of all cryptocurrencies is at $332 bln, having increased by a bit over 3 percent since yesterday, April 16, up 25 percent on the week.
The crypto markets' move upward could in part be caused by the arrival of tax day in the US today, April 17, presumably marking the end of crypto selling to pay taxes, as Wall Street strategist Tom Lee pointed out last week.
Crypto markets may also be regaining momentum on recent news that more former Wall Street Talent and money has moved into the space.
Earlier today, former Goldman Sachs executive Breanne Madigan joined crypto wallet Blockchain.com as the head of institutional sales and strategy, which followed another Goldman Sachs executive's resignation for CEO position at Mike Novogratz's future crypto merchant bank.
Blockchain securities platform Harbor announced that it had received $28 mln in its latest funding round, in part from major institutional players Andreessen Horowitz and Founders Fund.
Crypto Market Holds Gains On News Of More Wall Street Talent And Money Moving In
Publicado en Apr 17, 2018
by Cointele | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.