Bitcoin prices steady, holds within medium-term range

Cryptocurrency prices traded sideways on Thursday, in what has been a subdued action in the digital currency market.


BTCUSD, +0.77%

 the world’s largest digital currency, is trading $3,626.07, unchanged since Wednesday at 5 p.m. Eastern Time on the Kraken crypto exchange, and since this time, the cryptocurrency has traded within the $3,575-$3,635 range.

Read: ICOs continue to raise money via SEC back door

Sub $3,380 could spell trouble

A Twitter user that goes by the name Crypto Don, with a wide following, said a number of lower highs has kept bitcoin at the bottom of its range, but until support at $3,380 breaks, he expects the medium-term range of $3,380 to $3,700 to hold.

He said the lack of direction has kept him on the sidelines: “I’m personally not interested in trading this trading range.”

Read: Americans lost $1.7 billion trading bitcoin in 2018 — and more than half don’t know they can claim a deduction

Grayscale launches new investment trust

New York-based Grayscale Investments said on Thursday it has launched its 10th investment vehicle, the Grayscale Stellar Lumens Trust. The trust would give investors exposure to XLM, the currency that runs on the Stellar network, which is the sixth largest digital currency by market cap, according to data from CoinMarketCap.

Stellar is an open-sourced payment protocol that is often used to facilitate cross-border transactions.

What are altcoins and futures doing

Altcoins — the group of coins other than bitcoin — are mixed in Thursday trading. Ether

ETHUSD, -0.04%

 was off 0.9% at $121.07, Litecoin

LTCUSD, -0.26%

was down 1.9% to $30.70, Bitcoin Cash

BCHUSD, +1.26%

gained 0.6% to $127.90, and XRP,

XRPUSD, +0.77%

was up 0.1% at 33 cents.

Bitcoin futures were off to a mixed start to the trading day too. The Cboe Global Markets February contract

XBTG9, +0.07%

was down 0.6% at $3,570, while the CME Group February contract

BTCG9, +1.69%

was up 0.6% at $3,565.

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