Bitcoin, Ethereum, and Ripple mixed as cryptocurrencies outperform equity markets

The crypto market has had a reasonably subdued weekend of trade with the prices of major coins continuing to trade flat despite global share markets sinking lower.

At the time of writing the entire value of the market is US$209.2 billion according to Coin Market Cap, down 0.2% since this time on Friday.

Some traders believe that the lack of volatility means that Bitcoin and its peers are emerging as a serious option for investors looking to diversify their portfolios.

As mentioned last week, Mati Greenspan, senior market analyst at eToro was quoted in Market Watch telling clients that: “The fact that the current stock market rout has not had any effect whatsoever (positive or negative) on the cryptoassets is an extremely positive sign. This is a prime example of how crypto’s are uncorrelated and it only serves to increase their use case as a powerful tool for asset management.”

This view has been further supported by the fact that Bitcoin finished last week with a 1% gain in comparison to a decline of almost 3% by the Dow Jones Industrial Average.

However, it is worth noting that this low volatility and lack of correlation with equity markets is new. In fact, earlier this month cryptocurrencies lost significant value when equity markets had their first mini meltdown.

Because of this, I’ll need a bit more convincing before I would consider Bitcoin as a viable option for portfolio diversification.

For now, here is the state of play on the crypto market this morning compared to 24 hours ago:

The Bitcoin (BTC) price is down 0.1% to US$6,466.32, reducing its market capitalisation to just under US$112.2 billion.

The Ethereum (ETH) price has climbed 0.1% to US$204.27. This has lifted the ETH market capitalisation to US$21 billion.

The Ripple (XRP) price is up 0.1% to 45.77 U.S. cents. This has improved the XRP market capitalisation to US$18.4 billion.

The Bitcoin Cash (BCH) price has pushed 0.1% higher to US$437.38, lifting the Bitcoin spin off’s market capitalisation to US$7.6 billion.

The EOS (EOS) price has risen 0.3% to US$5.41. This gain gives EOS a market capitalisation of US$4.9 billion.

Outside the top five things weren’t quite as positive. Although Stellar (XLM) rose 0.2% and Tether (USDT) increased 0.35%, Litecoin (LTC) fell 0.5%, Cardano (ADA) dropped 0.2%, and Monero (XMR) tumbled 0.6% lower.

Don't miss the next major tech investment opportunity

When a veritable investing and entrepreneurial genius speaks, it pays to listen.

In fact, he's now preparing a $100B "war chest" to invest entirely in this "terrifying" new technology, which could spell huge profits for investors.

Click here to learn about this technology and how you can profit!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!