Bitcoin Roars Back, Now At $7,600 – Bitcoin Cash Faltering

Investing, News | November 16, 2017 By:

Bitcoin prices are almost all the way back after a $2,000 crash, a stunning comeback that portends well for future growth. As of this morning, legacy bitcoin (BTC) was at an average single-coin price of $7,670, a gain of close to seven percent over the last 24 hours.

The fortunes of Bitcoin Cash were heading in the opposite direction. After reaching the $1,800 mark last week in the midst of the BTC meltdown, Bitcoin Cash is now barely above the $1,000 single coin level, down more than 17 percent over the last 24 hours. Its trend over the last few days has been marked by sharp price decreases, as some skeptics point to an incredible amount of volume from Asia that pumped it up to its all-time high. That money is now apparently being taken off the table.

Bitcoin market highlights for the 24 hours ending November 16, 2017 at 1:00 pm U.S. Eastern Time

The highest price seen was $7,670.80 on the Bitfinex exchange at 12:54 pm today. Bitfinex saw $470,658,000 of bitcoin change hands.

The lowest price seen was $7,090.10 on Bitfinex’s exchange at 2:06 pm yesterday. Bitfinex’s 24 hour volume was $470,658,000.

The average price on the surveyed exchanges, as weighed by volume, was $7,321.26.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 53.2. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 3 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.