Weekend Update: Crypto Markets Rebound Nicely

Investing, News | September 23, 2017 By:

Prices were up nearly across the board for cryptocurrencies on Saturday, as the slump of the last few days was erased over the last 24 hours.

Legacy bitcoin (BTC) gained more than five percent, up to the mid $3,700 range for a single coin. Ethereum’s ETH was even better, gaining nearly eight percent to $280.

Other cryptocurrencies were faring equally well, as Bitcoin Cash, Litecoin, Dash, Monero and Ripple XRP all posted healthy gains.

The rebound follows several down-market days on Thursday and Friday.

The Block Tribune Volatility Index, which measures price swings in bitcoin, stood at BTVI 48.6, indicating a slightly below-average day over the last 24 hours.

Uncertainty is still in the air, and the cryptocurrency market certainly reflects that. There is still no final word from China on its official stance on exchanges, and the rumor mills are running wild. The only good news may be that Jamie Dimon of JPMorgan Chase failed to move the markets this time in his latest disparagement of cryptocurrency.


Bitcoin market highlights for the 24 hours ending September 23, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $3,829.00 on the Kraken exchange at 8:06 am today. Kraken saw $16,201,200 of bitcoin change hands.

The lowest price seen was $3,550.86 on Bittrex’s exchange at 9:24 pm yesterday. Bittrex’s 24 hour volume was $21,952,000.

The average price on the surveyed exchanges, as weighed by volume, was $3,684.39.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 48.6. 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.