Bitcoin Price Drop Slows As Crypto Market Takes A Breather

Investing, News | May 17, 2018 By:

Bitcoin’s race toward the bottom slowed today at the $8,200 per single coin level, as investor panic is apparently cooling. The rest of the cryptocurrency markets followed, with some upward corrections on EOS (up more than five percent) and Cardano (up more than one percent) post gains at mid-morning.

Is this the end of the panic caused by the raid on Korea’s largest exchange?  Authorities there have apparently found no wrongdoing in the exchange’s operation, which is news that should come as welcome relief to investors. Still, there’s a steep curve to climb back toward pre-panic heights.

Bitcoin market highlights for the 24 hours ending May 17, 2018 at 1:15 pm U.S. Eastern Time

The highest price seen was $8,562.53 on the Simex exchange at 11:24 pm yesterday. Simex saw $47,982,300 of bitcoin change hands.

The lowest price seen was $8,232.51 on Huobi’s exchange at 4:00 am today. Huobi’s 24 hour volume was $110,986,000.

The average price on the surveyed exchanges, as weighed by volume, was $8,321.01.

Volatility was lower than average, with the BlockTribune Volatility Index coming in at 38.5. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 10 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.