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Market Snapshot – Cryptos Generally Buoyant

By:
Colin First
Published: Feb 19, 2018, 17:51 UTC

The cryptos have been trading in a steady and strong manner over the last 24 hours

Forex Trading Signals - February 19, 2018

Cryptos Steady

The cryptos continued to trade in a strong and steady manner for much of the day though the ETH prices seem to be under pressure due to comments from their founder saying that the value of cryptos could drop to zero at any point of time. Though this is something that is known in the crypto circles and especially true for those coins that are not based on any fundamentals and do not have any special projects behind them, that the comments had come from someone as established and well-respected as Buterin has caused a bit of uncertainty in the market. But that has not stopped the BTC prices from climbing through the $11000 region as of this writing and we are seeing the ETH prices lagging behind by a bit. The prices of Ripple have also risen higher during this period and it appears as though it would only be a matter of time before the cryptos are off on their next bullish leg.

Stock Markets Quiet

The rest of the markets are quiet and calm due to holidays in China and the US which has affected the volatility and liquidity as well. The rest of the markets continue to remain calm and this has been due to the general improvement in the risk sentiment that has been seen around the world over the past few days. This is likely to continue in the short term as the US stock indexes continue their rebound from the fall that was seen a couple of days back and this is likely to keep the rest of the markets buoyant as well. There has not been much by way of fundamental events or economic data as the markets await the FOMC meeting minutes later in the week to know when the next rate hike from the Fed is likely to be.

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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