Digital Currency Markets Come Roaring Back – Double Digit Gains and Green Arrows Aboundbr>
The Black Tuesday and Wednesday crash has been followed by a strong resurgence in the cryptocurrency markets today, as the top ten coins have all posted double digit percentage gains.
Bitcoin is nearing $12,000 per single coin this morning after falling as low as the $9,000 range on Wednesday. Similarly, ethereum’s ETH is back from the low $800s to top $1,000; while Ripple XRP is up more than 74 percent to $1.62 after dipping below a dollar yesterday. XRP still has a way to go to get back to its $3.50 high.
Bitcoin Cash was up a robust 26 percent to the $1,800 range, while Cardano, Litecoin and NEM also showed muscle with huge percentage gains.
Bad news from China, South Korea and various governments evidently spooked investors earlier in the week, but a nice recovery appears on track.
Bitcoin market highlights for the 24 hours ending January 18, 2018 at 1:00 pm U.S. Eastern Time
The highest price seen was $12,174.60 on the Kraken exchange at 10:18 am today. Kraken saw $111,642,000 of bitcoin change hands.
The lowest price seen was $9,668.55 on Binance’s exchange at 2:06 pm yesterday. Binance’s 24 hour volume was $636,585,000.
The average price on the surveyed exchanges, as weighed by volume, was $11,149.63.
Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 52.6. A higher number indicates greater price volatility with 50 describing an average day.
These statistics were consolidated from 11 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.