Crypto Prices Trade Slightly Lower as Markets Await Catalysts

Cryptocurrency prices traded slightly lower on Thursday in Asia as traders awaited further catalysts.

Bitcoin slipped 0.1% to $10,521.2 by 11:20 PM ET (03:20 GMT). Ethereum lost 2.4% to $173.88, while XRP and Litecoin were down less than 1%.

While not a directional driver, Square and Twitter CEO Jack Dorsey said it is too still too early to consider Bitcoin as a currency.

"It's not functional as a currency. The peaks and troughs are like an investment asset and are equivalent to Gold. What we need to do is make it more usable and accessible as a currency, but it's not there yet,” Dorsey told the Australian Financial Review in an interview.

In other news, Christine Lagarde, head of the International Monetary Fund, said global central banks and regulators should be more open to innovations such as cryptocurrency, but note that they should protect consumers.

”In the case of new technologies – including digital currencies – that means being alert to risks in terms of financial stability, privacy or criminal activities, and ensuring appropriate regulation is in place to steer technology towards the public good,” said Lagarde, who is also the nominee to be the next president of the European Central Bank.

“But it also means recognising the wider social benefits from innovation and allowing them space to develop,” she added.