Cryptocurrency

Bitcoin slips over 1.5% off three-week highs

2019-02-11 13:34:32 GMT (Economies.com)

Bitcoin declined over 1.5% on Monday off three-week highs on profit-taking as traders assess the latest developments in the market, with the delay of the launch of NASDAQ-managed Bakkt crypto exchange.

 

At Bitstamp, Bitcoin slipped $56, or 1.5% to $3,595, with an intraday high at $3,652, and a low at $3,580. 

 

Bitcoin rose 7.9% on Friday, the largest profit since December 17, marking three-week highs at $3,711, on higher demand on the world's largest cryptocurrency. 

 

Market value of cryptocurrencies fell a billion dollars to $120 billion away from $123 billion, the highest since January 20. 

 

Intercontinental Exchange CEO Jeffrey C. Sprecher said he expects the Bakkt platform to start operations later this year. 

 

That's a delay from the initial timeline in the first quarter of the year, as talks continue with the Commodity Futures Trading Commission. 

 

Otherwise, Tom Lee, a notable Wall Street analyst and crypto supporter, said he sees nine gradual improvements in the market that would prop up prices eventually. 

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