Bitcoin hovers around $ 6,500, but momentum is building, says analyst


Bitcoin prices are mostly unchanged Friday, continuing what's been at the quiet week for the world's largest digital currency.

While it is a bitcoin, it has been fluctuating either side of $ 6,500. In Friday trading the price of a single bitcoin

BTCUSD, -0.90%

was last at $ 6,652.22, down 0.7% since Thursday at 5 p.m. Eastern Time on the Kraken exchange.

Crypto analysts hypothesizing that the market is on the precipice of a long-overdue rally. "September is coming to an end and a very interesting quarter is about to start. Does it remind you of anything? Oh yes, it reminds me of last year's bull rally, "wrote Naeem Aslam, chief market analyst at Think Markets U.K.

"It appears to me that a similar momentum could be building up again. This must be music to those who are suffering from heavy losses in the crypto market, "he said.

Read: Battered bitcoin bulls are latching on this seasonality chart

Altcoins underperforming in Friday trading

Volatility among altcoins is continuing. Friday with all underperforming bitcoins in early trading. Ether

ETHUSD, -1.27%

was down 1.7% at $ 224.55, Litecoin

LTCUSD, -3.66%

was off 3.7% at $ 61.62, Bitcoin Cash

BCHUSD, -2.20%

is trading down 4.4% at $ 638.00 and a single XRP,

XRPUSD, -2.59%

the coin that runs on the Ripple protocol, it was last going for 52 cents, down 3.9%.

Bitcoin futures are tracking spot prices lower Friday. The Cboe Global Markets Group Inc.'s October contract

XBTV8, -1.27%

was down 1% at $ 6.635 and the CME Group Inc. September contract

BTCU8, -0.45%

was off 0.8% at $ 6.605.

Read: Morgan Creek Digital founder says "Going bearish on humans may be the trade of our generation"

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