Investing.com - Bitcoin and other cryptocurrencies were lower on Friday, as Bitcoin fell to a two-week low.
Bitcoin was down 1.95%, falling to an almost two-week low of $7,386.70 on the Bitfinex exchange as of 9:11 AM ET (13:11 GMT), far from its high of $8,281.80 last week.
Cryptocurrencies overall were slightly lower. The coin market cap of total market capitalization was at $262 billion at the time of writing, compared to $269 billion on Thursday.
Ethereum, the second-biggest alternative currency by market cap, rose 0.33% to $412.85 on the Bitfinex exchange. Ripple, the third-largest virtual currency, increased 1.58% to $0.43971 while Litecoin was at $75.799, down 0.45%.
Meanwhile, German stock exchange Boerse Stuttgart is planning to offer digital asset services, the company announced on Thursday. The second-largest stock exchange in Germany will offer end-to-end infrastructure, including an initial coin offering platform, trading venue and custody for cryptocurrencies. The services will include trading of popular coins like Bitcoin and Ethereum, the company said.
“We are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading with cryptocurrencies,” said CEO Alexander Höptner. "In designing the strategic projects we closely cooperate with all competent boards and committees, and especially with the supervisory authorities."
In other news, UBS thinks Bitcoin could replace U.S. money supply, but only if its price reaches $213,000 or if its network’s processing capabilities advance drastically.
“Our findings suggest that Bitcoin, in its current form, is too unstable and limited to become a viable means of payment for global transactions or a mainstream asset class,” the bank said in a report.