danielcawrey
Long

Ether Closing Back In On $400

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Ether was not spared Sunday’s flash crash, with the second largest cryptocurrency by market capitalization dumping to as low as $325 before recovering. Some traders claim they took advantage of the dip. “We had expected ETH to fall back to the low $300s and accumulated there,” said Jack Tan, managing partner of Taiwan-based quantitative trading firm Kronos Research.

Karl Samsen, vice president of capital markets for trading firm Global Digital Assets, told CoinDesk that ether is separating itself from bitcoin and ETH is actually helping push the alternative cryptocurrency, or altcoin, market. “Bitcoin is rebalancing itself as it was the previous leader,” Samsen said. “Ether is tearing up the market, and it's bringing alts up with it. We’re still very bullish on mid- to low-market cap alts.”

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out