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Bitcoin was traded lower on Wednesday, on track for a third consecutive losing session.
In the mid-morning business, a single bitcoin
BTCUSD, -1.40%
he was going to get $ 6,261.36, down 1.1% from Tuesday to 5 pm. Eastern Time on the Kraken Kryp exchange. At the start of the session, bitcoin was trading at $ 6,211.84, marking the lowest level since October 15th.
Despite gravitating away from the $ 6,500 level, a crypto trader said the prolonged period of low volatility showed no signs of diminishing. "Bitcoin is not only experiencing low volatility, but also a very low volume," wrote Ricky Li, co-founder of Altonomy, a cryptocurrency and asset management trading company.
"It is at minimum trading volume in 2018, especially in the spot market, which signals a very low retail participation, so without sufficient external financing or retail participation, the market will likely remain around the current price with low volatility and volume. in the next future. "
To read: A digital currency of the central bank could be behind the corner if you believe in the International Monetary Fund
Bitcoin liquidity leads to the altcoin selloff
The plateaus, or cryptocurrencies other than the bitcoin, were in red on Wednesday. Ether,
ETHUSD, -2.70%
it was down 2.1% to $ 199.20, Bitcoin Cash
BCHUSD, -7.29%
it was the worst worst altcoin, with a decline of 6.9% to $ 476.10, Litecoin
LTCUSD, -1.39%
had lost 0.8% to $ 48.55 and XRP,
XRPUSD, -3.15%
the coin that runs on the Ripple protocol, was 2.3% off at 49 cents.
The futures continued their bad run on Wednesday. The November contract for Cboe Global Markets
XBTX8, -1.16%
it was 1.2% lower at $ 6,195 and the CME group's November contract
BTCX8, -1.67%
it was down 1.7% to $ 6.180.
To read: What you need to know about Bitcoin Cash's "hard fork"
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