Bitcoin prices were mostly unchanged Thursday, extending a lull that has pushed volatility to its lowest level since mid-November.
On Thursday, one bitcoin
was fetching $3,395.15, unchanged since Wednesday’s level at 5 p.m. Eastern Time on the Kraken exchange. The cryptocurrency has not traded outside of the $3,300 – $3,800 range since Jan. 11.
According to Buy Bitcoin Worldwide, the 30-day bitcoin volatility index stands at 2.41%, the lowest level since Nov. 19, 2018.
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What are analysts saying
Nancy Pakbaz, markets analyst at Daily FX said despite suppressed crypto prices, retail traders are still betting on bitcoin with the number of retail traders net long, 2.5% higher than the previous day and 2.4% higher compared with last week.
“The combination of current sentiment and recent changes gives us a further mixed bitcoin trading bias,” she wrote.
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Altcoins and futures
Cryptocurrencies other than bitcoin, colloquially known as altcoins, traded marginally higher on Thursday. Ether
rose 0.5% to $103.63, Litecoin
gained 1.6% to $32.90, Bitcoin Cash
was up 0.5% at $114.80 and XRP,
the currency of the Ripple protocol, trading at 29 cents, up 0.9%.
Futures were mostly unchanged to begin Thursday. The Cboe Global Markets February contract
was up less than 0.1% at $3,355, while the CME Group February contract
added 0.2% at $3,345.
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