Bitcoin Rally Fizzles, Now Clinging Above $10,000 As Red Arrows Abound

Investing, News | February 22, 2018 By:

Bitcoin continued its cooling trend today, slipping to just above the $10,000 per single coin mark after rising near $12,000 in the last few days.  This morning’s price is below the support level analysts have said is necessary to instill confidence in a sustained rally.

Red arrows abounded in the top ten cryptocurrencies, with most down six to eight percent. Litecoin dipped below the $200 mark and ethereum’s ether was below $825, both significant price points for those coins.

Bitcoin market highlights for the 24 hours ending February 22, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $11,313.80 on the HitBTC exchange at 9:54 pm yesterday. HitBTC saw $69,895,800 of bitcoin change hands.

The lowest price seen was $9,716.20 on Kraken’s exchange at 12:42 pm today. Kraken’s 24 hour volume was $140,001,000.

The average price on the surveyed exchanges, as weighed by volume, was $10,406.46.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 53.6. 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.