Bitcoin Suffers Pre-Weekend Blahs, Dips Down Once Again

Investing, News | April 6, 2018 By:

Bitcoin appears to be in Goldilocks mode – not too hot, not too cold. Friday marked a cold period, as single coin prices plunged from yesterday’s $7,000 mark down to the $6,600 level.

Investors are clearly unclear about which direction the market is headed. While rumors that whales are buying up large amounts abound, smaller investors appear to be getting cold feet, which tends to lower market momentum.

So who do you believe?  The analysts beating the drums and insisting on massive five-figure valuations by the end of 2018?  Or your own eyes, which have seen price plunge more than 100 percent this year?

The answer will go a long way toward establishing which way the crypto winds are blowing.

Bitcoin market highlights for the 24 hours ending April 6, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $7,078.43 on the HitBTC exchange at 8:54 pm yesterday. HitBTC saw $39,322,200 of bitcoin change hands.

The lowest price seen was $6,524.61 on Binance’s exchange at 7:00 am today. Binance’s 24 hour volume was $200,876,000.

The average price on the surveyed exchanges, as weighed by volume, was $6,698.48.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 42.4. 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.