Crypto Market Surge Makes a U-Turn As Momentum Wanes

Investing, News | September 14, 2018 By:

Yesterday’s cryptocurrency market surge has turned into today’s purge. As of mid-morning, most of the top ten coins showed a slight loss, with the exception of ether, riding a remarkable comeback. This follows one of the biggest green arrow days in weeks.

In today’s early trading, bitcoin sat at $6,400, down a half-percent over the last 24 hours on moderate volume in trading. The rest of the market followed, with Stellar the big early loser, down about four percent as momentum from its recent acquisition and exchange plans announcement wanes.

The outlier in early trading is ether, which is now at $205 and riding a surge after plunging as low as $168. Many had worried this was the end for the second largest by volume unit, but its rebound has again bolstered its status.