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Digital currency rockets suddenly as the stock market opens its doors


Posted 17th October 2018.

Digital currency rockets suddenly as the stock market opens its doors
The biggest names in digital currencies grew stronger today as tether, a token designed to be pegged to the U.S. dollar, fell more than 2 percent.
Ether, Bitcoin and XRP, are the three biggest cryptocurrencies on the current market and today rose by around 7% higher…Bitcoin went from €5,440.47 to €6,245.05 when the market first opened today around 8am London time.
Martin O’Reilly from PMVC Fund: http://pmvcfund.com/ states, “in comparison to last week where the market shed billions in capitalization, this is a massive sharp turn.”
“When you have a token dropping 2.5 percent, it gives room for other tokens to boost their way to the top of the rally,” says O’Reilly from PMVC Fund.
The top cryptocurrency are still well off their record highs, bitcoin off by more than 66 percent, XPR down more than 88 percent and tether down 84 percent
Many people have speculated that ether was created to manipulate the price of Bitcoin. Nowadays many people are questioning the motives behind it and wondering if it can hold a stable value, and perhaps cash out and shift their funds to other cryptocurrencies while they still have the chance.
Mr. O’Reilly from PMVC Fund says. “We have recently ventured into the market with precious metals, such as palladium as we believe they have a long term goal and is only the beginning of a long course to run. For us it’s a more viable and secure way forward in the eyes of any investor.”

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