Bitcoin Holds onto Gains

Bitcoin rose for a second day Wednesday as it continued its recovery from a pre-Christmas slump.The largest cryptocurrency fluctuated between gains and losses and traded 2 percent higher around $16,243 at 9:16 a.m. in London. Rival digital currencies extended their gains with ripple and ethereum trading 10 percent and 1 percent higher respectively, according to data compiled by Bloomberg.

The gains add to signs the biggest cryptocurrency may have found a floor after a 26 percent slump through Tuesday. Its volatility has added to an ongoing debate about how to value the digital coin which has surged about 1,600 percent this year.

Source: Bitcoin Holds Advance as Cryptocurrency Watchers Debate Value – Bloomberg

Markets Quiet in Run Up to New Year

EUR/USD – Euro Edges Up, U.S. Consumer Confidence Next

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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