Bitcoin Seeks The Floor, As Crypto Markets Slow Downward Momentum

Investing, News | March 13, 2018 By:

Bitcoin and other digital currencies may have found the floor. After briefly soaring near the $10,000 mark yesterday, legacy bitcoin has stabilized in the low $9,000 level, down slightly from Monday.

While red arrows are never good news, the ability to maintain above $9,000 may be crucial for investor confidence in the days to come. Some bears are out predicting plunges to the $5,000 level or below, creating nervous times for coin holders.

The rest of the digital currency markets moved down slightly, with Bitcoin Cash the outlier, up slightly more than two percent to $1,072 at mid-morning.

Bitcoin market highlights for the 24 hours ending March 13, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $9,487.07 on the Huobi exchange at 2:18 am today. Huobi saw $159,771,000 of bitcoin change hands.

The lowest price seen was $8,825.20 on Kraken’s exchange at 4:18 pm yesterday. Kraken’s 24 hour volume was $125,710,000.

The average price on the surveyed exchanges, as weighed by volume, was $9,158.48.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 42.6. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 8 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.