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Bitcoin Once Tops US$62,000; Ethereum Hikes ~10%
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Bitcoin continued to rally with Asian equities today (9 Aug). According to Coindesk quotes, Bitcoin rallied 6.8% during the last 24 hours to US$61,249 after having reached a high of US$62,622. Ethereum last printed at US$2,687, hiking 9.85%. Justin d'Anethan, head of business development for Asia Pacific at cryptocurrency market maker Keyrock, said one of the good things about the cryptocurrency sell-off on Monday (5 Aug) was the large number of leveraged trades that were unwound. However, he believed macro factors will continue to weigh on risky assets in the medium term, suggesting that the unwinding of JPY carry trades won't be resolved in a matter of days. AAStocks Financial News |
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