Despite a week filled with a lot of news related to the cryptocurrency industry, the value of Bitcoin and other cryptocurrencies mostly stayed stagnant. Some of the notable news for the week that ended on Saturday, October 6, 2018 included institutional investments and an important update from the U.S. Securities and Exchange Commission related to their ETF decisions for Bitcoin. Ran Neuner, who is the host of cable television station CNBC's program CryptoTrader, made a tweet on social media on Saturday that all of the week's positive news related to cryptocurrencies did not move the market too much because of the enhanced narrative around adoption and mass real-world usage of this digital currency. Some of that news included updates from TD Ameritrade and Yale University's movement into cryptocurrency investment and speculation. The fact that an esteemed American university is investing in cryptocurrency is definitively good news in an industry plagued by volatility and speculation. Bitcoin in particular has shown a lot of price stability over the past month. Its value has hovered in a short range between $6,300 and $6,600 since September 6. This is according to data provided by the Cointelegraph’s Bitcoin Price Index. Most of the top coins, with the exception of Ripple, have also shown little change over the past month. This is according to data provided by Coin360, a cryptocurrency tracking service. Ripple trades under the XRP label, and Bitcoin trades under the BTC label on currency exchanges. As an example of its same-day stability, on September 6, Bitcoin's high was $6,643. Its low was $6,566. This amounts to little price fluctuation. The change in price was just 0.2 percent, which is a stability usually only seen with longstanding, traditional corporations on the New York Stock Exchange or NASDAQ trading services. When examining the past year's worth of Bitcoin pricing, its value has stayed nearly the same since June. However, there have been three peaks of over $7,000, which were on the days of July 17, August 28 and September 1. Investors should continue to follow these trends to see if they hold a while.
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