Bitcoin and Other Cryptocurrency Prices Down in Volatile Market

Investing, News, Uncategorized | October 25, 2017 By:

Bitcoin continued sinking today, as the legacy cryptocurrency slipped down to the $5,500 per single coin level at mid-day.

Investors were no doubt spooked by the Bitcoin Gold fork, which created a new blockchain incompatible with the existing version of bitcoin. The fork occurred after block 491.406 was mined on Oct. 24. The network fork was pre-mined for 100,000 tokens and will not be usable until the Bitcoin Gold team releases the software. Potentially, this could create yet another iteration of bitcoin, joining Legacy Bitcoin (BTC) and Bitcoin Cash (BCC).

Bitcoin was down about three-and-a-half percent, dropping from the $5850 level at the same time yesterday. The Block Tribune Volatility Index, which measures price swings in legacy bitcoin, was lower than the median, sitting at BTVI 48.4 for the last day.


Bitcoin market highlights for the 24 hours ending October 25, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $5,689.30000000 on the BitMEX exchange at 4:00 pm yesterday. BitMEX saw $945,750,000 of bitcoin change hands.

The lowest price seen was $5,367.51000000 on Bitstamp’s exchange at 11:00 pm yesterday. Bitstamp’s 24 hour volume was $78,503,400.

The average price on the surveyed exchanges, as weighed by volume, was $5,529.73.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 48.4. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 6 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.


Currency Volatility Index Today’s Average Price Today’s Volume
Ethereum 46.4 $298.20 $7,101,901,003,140
Litecoin 47.0 $55.30 $2,377,935,277,847
Ripple 40.4 $0.20 $568,624,583,631
Monero 54.9 $88.94 $566,611,180,941
Qtum 45.9 $10.72 $170,197,663,500
Stellar Lumens 38.6 $0.03 $163,884,711,200
NEO 51.1 $29.60 $68,652,540,639
MonaCoin 50.8 $3.79 $45,798,761,554
Vertcoin 44.3 $3.39 $36,629,698,095
BitConnect 48.9 $195.47 $28,056,276,523
OmiseGO 54.0 $7.87 $19,358,377,909
IOTA 46.6 $0.45 $15,187,744,568