Bitcoin Cools Off As Monero Heats Up

Investing, News | August 21, 2017 By:

The bitcoin market cooled off a bit today, as prices were down for both legacy bitcoin (BTC) and Bitcoin Cash (BCC) after a torrid rise last week.

At mid-day, legacy bitcoin was clinging to the $4,000 level in single-coin pricing, sitting at $4,028. That’s down from the $4,500 heights of last week, when the price skyrocketed from the $3,500 level.

Bitcoin Cash continued its extreme volatility. It was up over the $900 level on the weekend as reports came in that miners were actively working its blockchain. However, by Monday, pricing was coming back to earth, sitting at $621. That’s still double where it was at the beginning of last week.

Today’s big winner was Monero. The coin has been lagging in the $40 range for some time, but suddenly zoomed up as high as $95 this morning before settling back to the $75 level.  South Korean exchange Bithumb will soon start providing Monero buying/selling capabilities, which may have spurred the market, much as it did for Bitcoin Cash.

Ethereum was also a winner on the day, vaulting up to the $329 level at mid-day. New word on the changes coming to its blockchain may have spurred the action.

Elsewhere on the crypto charts, Ripple XRP was at 0.164830 at mid-day, up about three percent; Litecoin was at $46, down incrementally, while Dash was at $270, down nearly four percent.

The Block Tribune Volatility Index, which measures price swings in legacy bitcoin, was below average in the last 24 hours. It sat at BTVI 47.4 for the last 24 hours.



Bitcoin market highlights for the 24 hours ending August 21, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $4,260.00 on the BTCC exchange at 8:06 am today. BTCC saw $16,136,300 of bitcoin change hands.

The lowest price seen was $3,943.44 on Gemini’s exchange at 2:36 am today. Gemini’s 24 hour volume was $63,496,400.

The average price on the surveyed exchanges, as weighed by volume, was $4,053.56.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 47.4. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 8 different exchanges. It includes only USD/BTC trades and only on those exchanges that had at least 1% of the total volume of USD/BTC trades during the measurement period.