Bitcoin Climbs to $6,300 Before Retreatingbr>
A resurgent bitcoin briefly went up to $6,300 in single-coin pricing today, hitting an all-time high before falling back to earth at just over $6,000.
Bitcoin Cash was the weekend’s big winner, soaring to over $520 per single coin before falling back to earth today at a still-high $444 at mid-day. No apparent reason for the pump was evident, as Bitcoin Cash has been in a narrow trading range between $320-$350 for weeks.
Massive trading volume is responsible for the surge. From a typical $200 million or less in volume, Bitcoin Cash erupted to $1.71 billion. Why that happened and who is responsible are still unknown.
Bitcoin market highlights for the 24 hours ending October 30, 2017 at 3:00 pm U.S. Eastern Time
The highest price seen was $6,300.00 on the BTCC exchange at 4:30 pm yesterday. BTCC saw $38,192,400 of bitcoin change hands.
The lowest price seen was $5,805.00 on BTCC’s exchange at 10:36 pm yesterday. BTCC’s 24 hour volume was $38,192,400.
The average price on the surveyed exchanges, as weighed by volume, was $6,139.62.
Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 45.8. A higher number indicates greater price volatility with 50 describing an average day.
These statistics were consolidated from 7 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.