Bitcoin’s (BTC) price is down 0.87% today as the world’s leading cryptocurrency’s market capitalisation wavered from highs of US$114.4billion to lows of US$112.8 billion over the past 24 hours of trading.
It has been a relatively soft few hours of trading for cryptocurrency markets, as small declines were seen across the board.
Overall, the market shed 0.5% of its value over a 24-hour period to US$210.6 billion, according to
Einstein Exchange.
BTC’s price was given a major lift earlier this week with the
launch of Fidelity Asset Services – a new business that plans to handle cryptocurrency custody and trade execution for institutional investors.
CLICK BELOW FOR LIVE CRYPTOCURRENCY PRICE INDEXES:
In a knee-jerk reaction to the launch, crypto markets were at first propelled to new heights in a sudden spike in the digital assets' value. But the bump was short-lived as the momentum slowed and prices started to fall, stabilising cryptos across the board.
The preliminary surge in price occurred on October 15
th, when Bitcoin’s value rose sharply to almost US$7,000 only to plummet back to US$6,590 within the space of just a few hours.
The vast swing in BTC’s price appears indicative of cryptocurrencies in general – digital assets are unpredictable and extremely volatile, often experiencing huge fluctuations in value over short periods of time.
Hotelier Coin: Could it be the answer to reshaping the hospitality industry?
A new, decentralized digital currency platform specific to the hospitality industry could make booking a hotel room or resort stay a lot simpler and cost-effective if a Singapore-based entrepreneur has his way.
Rana Mukherji is the founder and CEO of
Hotelier Coin – which uses the Ethereum blockchain and smart contracts to simplify the hotel booking process.
Currently undergoing its private sale, Hotelier Coin is aiming to raise a hard cap of $60 million. To continue reading more about Hotelier Coin,
click here.
