Bitcoin Breaks Out From Its Range, But Heads In The Wrong Direction

Investing, News | March 29, 2018 By:

Nervous times for cryptocurrency investors today, as the markets took a sharp turn downward after several days in a narrow range. As of mid-morning, bitcoin was at $7,500 per single coin, near its low point of the year.

The rest of the market also headed south, as ether, Litecoin and Bitcoin Cash also plunged in price. Momentum has evidently broken into a severe bear market, and it could be a rocky few days for investors.

Bitcoin market highlights for the 24 hours ending March 29, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $8,013.87 on the OKEx exchange at 6:12 pm yesterday. OKEx saw $287,927,000 of bitcoin change hands.

The lowest price seen was $7,342.01 on GDAX’s exchange at 10:36 am today. GDAX’s 24 hour volume was $132,652,000.

The average price on the surveyed exchanges, as weighed by volume, was $7,695.64.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 51.3. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 8 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.