Bitcoin prices have been marginally lower on Tuesday, in line for consecutive and tenuous sessions, as investors seek the next catalyst to drive sentiment in the cryptocurrency market.
A single bitcoin
had a value of $ 6.423.55, down 0.4% from Monday at 17.00. Eastern Time on the Kraken Kryp exchange and remained within a range of $ 250 at that time.
According to data from CME Group Inc., volumes on the futures market decreased for the third consecutive trading session on Monday, with 2,480 transactions, and are down 69% from August 13, when more than 8,000 contracts futures on bitcoins have changed.
Despite the slowdown in volumes, one analyst said that the fall in volatility is a good sign for digital resource advocates. "A constant price range is healthy for bitcoins as it increases its use as a stable value reserve and gives network developers more time to build the infrastructure that will be needed in the future," wrote Mati Greenspan, an analyst eToro senior market.
Read: Bets against bitcoins have doubled since the beginning of August, says the exchange
Altcoin resumes the downward trend
Altcoins, or coins other than bitcoins, are come out of the blocks for the second day in a row. After a rebirth last week, Ether
slipped for the second day in a row, trading 3.6% to $ 275.40. The second largest digital currency lost 14% from trading above $ 320 on Saturday.
Elsewhere, Bitcoin Cash
fell 3.3% to $ 526.30, Litecoin
is down by 1.4% to $ 54,96 and the Ripple XRP currency
is trading at 33 cents, down 4.4%.
Bitcoin futures, which closed slightly on Monday, are traded in the early afternoon red in New York. The September contract of Cboe Global Markets Inc.
fell 0.7% to $ 6.410 while the CME Group Inc contract in August
is down 0.4% to $ 6.405.
Read: Too many ICOs sell final fraud: Finra
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