Bitcoin Steams Past The $11,000 Barrier, Looks For Sustained Rally

Investing, News | February 19, 2018 By:

Bitcoin is back on the rise, climbing past the $11,000 mark and headed for what looks like a strong rally from the depths.

The volatility of the digital currency was never more apparent than over the last month. Bears came out of hibernation to declare that bitcoin could go as low as $3,000. But cooler heads prevailed, and analysts noted that breaching the $10,500 mark could set up a sustained rally.

Other cryptocurrencies were sleeping today, with most indicating less than one percent activity over the last 24 hours

Bitcoin market highlights for the 24 hours ending February 19, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $11,253.10 on the Huobi exchange at 11:48 am today. Huobi saw $122,515,000 of bitcoin change hands.

The lowest price seen was $10,309.40 on Binance’s exchange at 7:18 pm yesterday. Binance’s 24 hour volume was $457,451,000.

The average price on the surveyed exchanges, as weighed by volume, was $10,733.47.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 47.1. 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.