Bitcoin Boomerangs In Wild Day Of Trading, As Bulls Finally Break Out

Investing, News | April 12, 2018 By:

The bitcoin bulls came storming out of the corral today, as the price lull of the last few days abruptly ended. Bitcoin soared as high as $8,000 per single coin before pulling back. At mid-morning, bitcoin was trading about $7,500, still well above its price of the last several days.

Was this a blip, or the beginnings of a stir in investor sentiment?  Whatever the reason, the rally carried over to other cryptocurrencies, boosting prices by double digits for most coins in the top ten. Even laggards like Litecoin, which has been meandering along a narrow range, got a bit of a boost by today’s frantic activity.

Bitcoin market highlights for the 24 hours ending April 12, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $8,000.10 on the Kraken exchange at 7:48 am today. Kraken saw $92,252,600 of bitcoin change hands.

The lowest price seen was $6,774.33 on Binance’s exchange at 3:06 am today. Binance’s 24 hour volume was $412,077,000.

The average price on the surveyed exchanges, as weighed by volume, was $7,236.03.

Volatility was greater than average, with the BlockTribune Volatility Index coming in at 65.7. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 9 different exchanges. It includes only BTC/USD trades and only on those exchanges that had at least 1% of the total volume of BTC/USD trades during the measurement period.