Crypto Markets See Little Movement, Bitcoin Continues to Trade Just Below $6,500

October 21, 2018

 

Crypto markets are seeing little momentum, with virtually all of the major cryptocurrencies seeing slight growth and losses between a 1-2 percent range, as Coin360 data shows. Tether (USDT) has mostly settled back in to its characteristic trading pattern. Having briefly lost its U.S. dollar peg last week, the asset has since reclaimed its historical trading range close to a 1:1 ratio to the greenback. Today the stalwart stablecoin has seen an almost 1 percent drop to trade at $0.979.Bitcoin (BTC) is trading at $6,473 at press time, seeing negligible price change on the day according to CoinMarketCap. Following its short-lived ascent to $6,965 Oct. 17, correlated with Tether’s price tumble, Bitcoin has corrected back to a trading range just a little higher than at the start of its weekly chart.Earlier this month, Bitcoin achieved a 17-month low volatility rate, recording its highest level of stability since mid-2017, and the trend has continued over the past few days.Coupled with low volatility, BTC trading volumes remain low; as of press time the figure is around $3.55 billion.On the week, the top coin has seen a gentle increase of around 3.3 percent: on its monthly chart, growth is just 0.23 percent.

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