RATE Group | Bitcoin Price Bounces as Cryptocurrency Market Sees Relief Rally
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Bitcoin Price Bounces as Cryptocurrency Market Sees Relief Rally

21 Nov Bitcoin Price Bounces as Cryptocurrency Market Sees Relief Rally

Posted at 15:16h in Cryptocurrency News by

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Cryptocurrency markets staged a modest relief rally November 21 as the impact of news trading platform Bakkt had pushed back its launch subsided.

Markets Shrug Off Bakkt And Bitcoin Cash

Led by Bitcoin Cash 00, the fourth largest cryptocurrency by market cap which lost 50 percent of its value Monday, the twenty major cryptoassets all made gains on the day, the only exception being Tezos, which lost 4.3 percent.

Bitcoin price 00 had already corrected from weekly lows of $4237, circling $4550 at press time having hit daily highs closer to $4650.

Traders had reacted wearily to news Intercontinental Exchange’s “regulated ecosystem” for cryptocurrency Bakkt had delayed its physical Bitcoin futures launch from December 12 to January 24.

Due to what CEO Kelly Loeffler said was “the volume of interest in Bakkt and work required to get all of the pieces in place,” institutional investors will now need to wait until the new year to leverage exposure to Bitcoin.

“As is often true…

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