CryptoWatch: Bitcoin halts skid, same can’t be said for other cryptocurrencies

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Bitcoin was the lone winner Wednesday, ending its recent skid.

The No. 1 digital currency bitcoin BTCUSD, -0.98% spent the last 24 hours trading on either side of $8,000 and last traded at $7,917.73, up 1.6% on the day.

Despite coming off a string of losing days, the overall decrease in price volatility is a good sign for digital currency advocates, says one analyst.

“At this stage price doesn’t really matter. The more sideways movement will increase the likelihood of adoption,” said Mati Greenspan, senior market analyst at eToro.

“We are seeing a pickup in day traders, more people playing the range, which helps the adoption of cryptocurrencies,” Greenspan said of the increasing interest despite the overall market downtrend.

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