First Mover Americas: Bitcoin and Ether Stay Stable in Chaotic Week in Markets
Lyllah Ledesma, Omkar Godbole - CoinDesk
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Bitcoin (BTC) and ether (ETH) have traded in a tight range this week and are finishing the week pretty much back where they started. As macroeconomic turbulence continues across the globe, the crypto market appears to have suffered little impact. Both cryptocurrencies are down around 1% over the last seven days.
Laurent Kssis, a crypto trading adviser at CEC Capital, still considers a target below $19,000 for bitcoin as realistic. And “targeting levels at $1,200 for ETH is the trend,” he said.
European markets started Friday lower as political chaos in the United Kingdom continued. On Thursday, Liz Truss resigned as prime minister after just 45 days in office. A leadership contest will now take place over the next week.
Pound volatility nears bitcoin level
Data showed that the pound sterling and bitcoin volatility levels have become almost identical. The 30-day volatility for both shows that the pound is on the verge of becoming more volatile than the cryptocurrency.
Stock futures are down in the U.S. as investors came out of a tumultuous day of wide-ranging corporate earnings.
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