Bitcoin Cools, Ripple XRP and Bitcoin Cash Plummet In Monday Digital Currency Markets

Investing, News | January 8, 2018 By:

Cryptocurrency markets were in retreat today, as bitcoin surrendered more than 20 percent from last week’s high. It was sitting in the $14,000 per single coin range this morning, dragging down the rest of the digital currency market.

Ripple XRP is now in full retreat, sitting at $2.50, down from its high of $3.50. The announcement by Coinbase on its policies on adding new currencies threw cold water on the speculation that XRP would soon be joining the largest exchange in the US, driving prices down.

Bitcoin Cash was also way down this morning, sitting around $2,300, a drop of more than 17 percent over the last 24 hours. In contrast, ethereum’s ETH was down slightly more than two percent after rising over the $1,100 mark over the weekend. It’s now around $1,097.

Bitcoin market highlights for the 24 hours ending January 8, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $16,499.50 on the Poloniex exchange at 5:54 pm yesterday. Poloniex saw $131,140,000 of bitcoin change hands.

The lowest price seen was $13,000.90 on Binance’s exchange at 10:18 am today. Binance’s 24 hour volume was $364,845,000.

The average price on the surveyed exchanges, as weighed by volume, was $15,617.51.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 55.5. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 11 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.