Bitcoin Price Limps Through February as Cryptocurrency Market Follows


As February draws to a close, most investors would rather forget the month. Bitcoin’s price at the end of February was a familiar story.

BTC briefly crossed the $11,000 mark for the second time in as many weeks but quickly pared its gains. At 06:30 UTC this morning, bitcoin was changing hands at $11,044, but it was down to $10,460.11 per pop by 13:40 UTC. That means the original coin ends February pretty much on a sideways note, having eked out gains of 3% during the course of the month as of this writing.

Still, that’s better performance than other cryptocurrencies among the top 10 most valuable coins, all of which registered price losses this month. Stellar and EOS were the worst performers in that group, having sliced 40% and 34% off their respective prices. Although their net gains since the start of this year are positive, Ethereum and NEO had a poor February and lost 24% and 7% of their values.

The overall market capitalization for cryptocurrencies was $447.9 billion, as of this writing. The February slump in cryptocurrency markets resulted in a 13.6% decline in overall market cap this month, as of this writing, from $519.9 billion at the start of the month to the current figure.

More Cryptos At Cboe?

Cboe recently finished a software upgrade to its platform, and a Bloomberg report hypothesizes that the futures exchange may be lining up other cryptocurrencies for futures markets. But before it does that, the exchange might want to consider its experience with bitcoin futures.

Trading volumes in bitcoin contracts have remained thin and the number of contracts being traded has increased fairly slowly. Another regulatory agency, CFTC, has issued a ruling to employees, allowing them to invest in bitcoin futures at exchanges that are not regulated by the CFTC. This means that CFTC employees will not be allowed to trade contracts at CBOE and CME.

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