Bitcoin Continues Strong Rally As Momentum Builds For Sustained Run

Investing, News | April 13, 2018 By:

Are happy days here again for bitcoin and the rest of the cryptocurrency market?  A strong bull run has lifted the bitcoin single coin price above the magic $8,000 mark, and the rest of the top ten coins are also showing big gains.

Beyond bitcoin, etherum is back over the $500 mark, while Ripple is up 22 percent over the last 24 hours. Litecoin and Bitcoin Cash are also up more than seven percent, while Stellar is flirting with near 20 percent gains on the day.

How much momentum is there in this rally?  After a first quarter from hell, bitcoin again appears to be on the march, as pundits predict all sorts of outlandish valuations by the end of 2018. Will this time be different?  Or is this a sucker’s rally designed to bring back some nervous mom and pop investors to bolster the rest of the big boys?

Bitcoin market highlights for the 24 hours ending April 13, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $8,213.63 on the OKEx exchange at 9:00 am today. OKEx saw $385,730,000 of bitcoin change hands.

The lowest price seen was $7,568.57 on Huobi’s exchange at 1:06 pm yesterday. Huobi’s 24 hour volume was $237,343,000.

The average price on the surveyed exchanges, as weighed by volume, was $7,921.39.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 51.0. 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.