A Down Day for Cryptocurrency Closes Out The Work Week

ICO News, Investing, News | July 7, 2017 By:

The market started to shift today, as traders woke up from the summer doldrums and started taking some profits.

Bitcoin was down about two percent to $2,539 in single-coin pricing at mid-day, and while that wasn’t great news, it’s still within the narrow range it’s been holding at for the last week.  The Block Tribune Volatility Index, which measures activity in bitcoin price movements, showed the BTVI at 45.8, a jump from Thursday’s 39.6, but still below average.

Despite analyst predictions that bitcoin will soon be booming, it’s clear that nervous investors are taking a wait-and-see approach to the market. The proposed network upgrades of SegWit set for the end of the month could have a major impact on pricing and other issues.

Ethereum’s single-coin pricing at mid-day sat at $254, down about five percent. The news hasn’t been good lately for the second-leading cryptocurrency, as a crisis of faith prompted by a sluggish network has left investors wary of plunging ahead. The market continued to try and make sense of recent scaling issues wrought by an abundance of ICOs and exchange volume issues.

Litecoin was down to the $47 range after a few heady days dancing near its all-time high.

Dash ($199) and Monero ($45) were both down about seven percent, with Ripple’s XRP down near four percent at $0.244142.



Bitcoin market highlights for the 24 hours ending July 7, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $2,647.30 on the Gatecoin exchange at 6:54 pm yesterday. Gatecoin saw $9,353,740 of bitcoin change hands.

The lowest price seen was $2,423.00 on BTC-E’s exchange at 9:36 am today. BTC-E’s 24 hour volume was $9,936,620.

The average price on the surveyed exchanges, as weighed by volume, was $2,551.95.

Volatility was a bit lower than average, with our index coming in at 45.8. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 15 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.