Bitcoin Stalls, Falls Back Slightly After Failing To Breach $5,000 Markbr>
To borrow a phrase from baseball, bitcoin’s long fly ball was caught on the warning track. A day after the legacy cryptocurrency threatened to breach the $5,000 single-coin mark, it pulled back to the $4,800 pricing level at mid-day.
Was it cold feet by investors? Or could remarks by Russia’s President Vladimir Putin have dampened enthusiasm in a market already roiled by restrictions imposed by China and South Korea? Bad news travels fast, and even when some prominent investors are touting sky-high valuations for bitcoin, nothing beats a country’s government threatening to make trading in cryptocurrency illegal.
The legacy bitcoin (BTC) price stall had an echo throughout the cryptocurrency market. Ethereum stayed at the $302 mark, while Litecoin failed to budge off the $50 level. Bitcoin Cash (BCC) was down about one percent to $313 per single coin.
Sporting green arrows were Ripple XRP ($0.263185), which has been on a public relations offensive; Dash, up three percent to $299; and Monero, which gained percentage points to $87.
The Block Tribune Volatility Index, which measures price swings in bitcoin, reflected the torpor. It was down to BTVI 46.0, indicating a below-average day over the last 24 hours. That continues the low volatility that has marked bitcoin for well over the last two weeks.
TODAY’S 24-HOUR BITCOIN STATISTICS
Bitcoin market highlights for the 24 hours ending October 11, 2017 at 3:00 pm U.S. Eastern Time
The highest price seen was $4,913.77000000 on the Bittrex exchange at 4:24 pm yesterday. Bittrex saw $21,962,900 of bitcoin change hands.
The lowest price seen was $4,700.00000000 on BTCC’s exchange at 11:12 pm yesterday. BTCC’s 24 hour volume was $23,309,600.
The average price on the surveyed exchanges, as weighed by volume, was $4,797.00.
Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 46.0. A higher number indicates greater price volatility with 50 describing an average day.
These statistics were consolidated from 9 different exchanges. It includes only USD/BTC trades and only on those exchanges that had at least 1% of the total volume of USD/BTC trades during the measurement period.