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Cryptocurrency prices have been little changed on Friday, trying to end a wild week for digital asset owners on a quiet note.
Bitcoin
BTCUSD, + 0.01%
the largest digital currency in the world, trading at $ 6,469.21 in early Friday trading, unchanged from Thursday's level at 5.00pm. Eastern Time on the Kraken Kryp exchange. For the week, bitcoin is on track for a 3.8% increase.
The total value of all digital currencies fell to a minimum of 10 months Wednesday of $ 186 billion, however, the rapid turnaround on Thursday added up to $ 20 billion, supported by a report that Morgan Stanley
MS, + 0.51%
is about to offer customers a product to get exposure to bitcoins, joining a number of other banks that are following the bitcoin route. "While it may take longer than some expected, the adoption of cryptotrading on Wall Street is going ahead as planned," wrote Mati Greenspan, senior eToro market analyst.
According to CoinMarketCap data, the total value of all cryptocurrencies was $ 200 billion.
Novogratz says the bitcoin fund is in
Aiding Thursday's rally was former hedge fund manager and prominent bitcoin bull Michael Novogratz calling the bitcoin fund. "This is the BGCI chart … I think we put some scrap yesterday.," Novogratz tweeted Thursday. The BGCI is the Bloomberg Galaxy Crypto index that measures the value of the major digital currencies in terms of US dollars.
This is the BGCI chart … I think we put a low point yesterday. retouched the highs of the end of last year and the point of acceleration that led to the great rally / bubble … the markets love to go over the breakout … we have retraced the whole bubble. #callingabottom pic.twitter.com/EasTBYgjSj
– Michael Novogratz (@novogratz) September 13, 2018
Novogratz, a major investor in hedge funds, has attracted attention in the second half of 2017 when he said that bitcoin would reach $ 40,000 by the end of 2018 and added that the bitcoin is a bubble, but a bubble worth buying.
Read: Crypto fund manager: you will never see a bubble bigger than bitcoin. buy it anyway
Ether holds $ 200, marginally higher futures
After months in stasis, Ether
ETHUSD, + 1.27%
recorded a strong gain on Thursday, rising to 15%. In the first Friday trading, the second largest digital currency was adding to gains, posting a 1.9% rise to $ 209.50.
Elsewhere, Bitcoin Cash
BCHUSD, -3.82%
was the main currency with the worst return, with a decline of 3.4% to $ 452.30, Litecoin
LTCUSD, -0.52%
fell 0.2% to $ 53.92 and the Ripple XRP currency
XRPUSD, -0.59%
remained unchanged at 28 cents.
Futures show small gains on Friday. The September contract of Cboe Global Markets Group Inc.
XBTU8, + 0.19%
gained 0.5% to $ 6.455 and the comparable contract of CME Group Inc. in September
BTCU8, + 0.00%
traded 0.3% more at $ 6.455.
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