Bitcoin Hits $11,000 Mark – Yes, You Read That Right

Investing, News | November 29, 2017 By:

It’s been the wildest of wild rides over the last week for legacy bitcoin, as its stunning run-up took it as high as $11,470 per single coin on the GDAX exchange over the last 24 hours.

Are these prices, to quote the old electronics retailer Crazy Eddie, “insane?”   That remains to be seen, but one thing is clear – the mania for bitcoin may only be at its beginning, even at these staggering levels and 800 percent year-over-year percentage increases. Buckle up and hang on – some are calling for bitcoin $100,000 by the end of 2018.

Bitcoin market highlights for the 24 hours ending November 29, 2017 at 1:00 pm U.S. Eastern Time

The highest price seen was $11,470.00 on the GDAX exchange at 9:18 am today. GDAX saw $530,383,000 of bitcoin change hands.

The lowest price seen was $9,836.42 on Poloniex’s exchange at 2:18 pm yesterday. Poloniex’s 24 hour volume was $153,471,000.

The average price on the surveyed exchanges, as weighed by volume, was $10,553.78.

Volatility was unusually high, with the BlockTribune Volatility Index coming in at 92.9. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 5 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.