Major cryptocurrency prices fell on Thursday, extending losses from the previous session.
the best-known cryptocurrency, was last changing hands at $3,554.60, down 0.5% since Wednesday’s level at 5 p.m. Eastern Time on the Kraken exchange. The cryptocurrency is on track to record its fourth consecutive losing session.
Thursday’s Market Snapshot: S&P 500, Nasdaq poised to extend rally to a fifth day on U.S.-China trade-talk progress
What are analysts saying
“The effects of the weekend rally seem to be slowly fading and the crypto markets are oddly mixed,” wrote Mati Greenspan, senior market analysts at eToro. “Of course, this is a very moderate decline and can easily be turned around, but looking at both sides of the coin, it could also be an indication the excitement was premature.”
In the news
According to CNBC, JPMorgan Chase & Co.
has launched the first bank-backed cryptocurrency, the JPM Coin. The coin will be used to settle payments between wholesale clients, which will begin in the coming months, CNBC said.
Read: Digital-currencies skeptic JPMorgan is rolling out one of its own: report
Altcoins and futures
Altcoins, the digital currencies other than bitcoin, were marginally lower on Thursday. Ether
fell 0.6% to $119.75, Bitcoin Cash
was down 0.3% at $119.80, XRP
lost 0.6% to 30 cents and Litecoin,
fell 1% to $40.73 and is more than 13% off its Feb. 10 high.
Bitcoin futures were moving lower early on Thursday. The Cboe Global Markets March contract
was off 0.6% at $3,550, while the CME Group February contract
was trading lower by 0.4% at $3,555.
Read: Overstock founder Patrick Byrne pitches radical transformation of government services via blockchain
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