Good morning and welcome to our comprehensive coverage of all cryptocurrencies, including price, innovation, regulation and financial crime.
The market is floating in green again this morning, posting positive results as a bull trend pushes Bitcoin back into the green.
Bitcoin added 1.27 percent at 9 o'clock at the time of writing and now traded at 6,728.31. 19659005] Ethereum rose 1.54 percent to $ 277.92
Ripple surged 1.86 percent to $ 0.329328.
Litecoin also rose 1.59 percent to $ 57.58.
Experts warn that the positive charts might be reassuring earlier BTC is falling again as the market waits for the decision of the Securities and Exchange Commission to ratify a Bitcoin Exchange-Traded find.
All times are in standard British time.
1:00 UPDATE: Uncoupling Bitcoin and the Old People
Luke Shipley, CEO of Zinc, believes that Bitcoin and the number of Altcoins are little different and will be mutually independent.
Mr. Shipley said, "In the wake of ETFs causing wildfire in the cryptosphere, we see this trigger a new trail in the crypt waters.
" Traditionally, we have seen that bitcoin correlates strongly with the "ancients" moving up and down in both directions at a relatively similar speed. The accepted thesis is that all are bound against Bitcoin. Many believe that if Bitcoin slows down and settles on its store of value, some legacy users will recognize their benefits and overtake the leader.
"But they are not moving any longer, Bitcoin is moving in the same direction as the market as a whole, but at a much slower pace, and it's becoming clear that nothing helps fulfill the due due diligence requirements more than one Bear Market: Risk appetite drops and the money spent on Crypto goes on "safer" bets. "
9:50 am UPDATE: Could BTC drop another $ 3,000?
Anthony Pompliano, Founder and Partner, Morgan Creek Digital Assets predicted that Bitcoin could fall from one of the market's bullish positions to $ 3,000 on a full turnaround.
In a post, Pompliano stated that his January forecast of a 50,000-year Bitcoin price was big for the brand for up to four years.
He said: "Parabolic price increases take longer – every parabola run is measured from the last all-time high to the new all-time high.The first fast price increase took just over 300 days (2010-2011) and the second took over 900 days (2011-2013 The last parabolic price increase reached ~ $ 20,000 (2013-2017) and lasted nearly 1,500 days. "
9am UPDATE: Trend reversal on the path as BTC prices correlate with emerging markets says CEO
Tom Lee, the Bitcoin analyst from Fundstrat, claimed that cryptocurrency prices could reach an explosive peak by 2018, claiming a correlation between the cryptocurrency market and the emerging markets.
Research Leader at Fundstrat Global Advisors said he "still believes [s] it is possible" that Bitcoin's price could rise to as much as $ 25,000 this year.
Lee has based this assumption on the relationship between the price of BTC and the publicly traded iShares MSCI Emerging Markets Fund (ETF) of BlackRock, which tracks large and mid-sized companies in emerging markets
The "important correlation," according to Lee, is that both markets are somewhat parallel, both "really peaking" in early 2018 and "both [having been] in a downtrend" of there.