Digital Currency Markets Continue To Retreat As Regulators Get Tough

Investing, News | March 9, 2018 By:

The digital currency markets continued to sag to close out the business week, with bitcoin down below the magic $9,000 per single coin mark for the first time in weeks. The rest of the top ten coins were also in retreat save for Litecoin, which was up about two percent.

The crypto market has now retreated about 20 percent off 2018 highs, and momentum is leaning toward continued choppy financial waters as regulators huff and puff and governments further tighten their rules. Adding to the issues are the recent technical problems with the Binance exchange – never a confidence builder for investors – and the Japanese taking a harsh stance on compliance with its new exchanges.

Bitcoin market highlights for the 24 hours ending March 9, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $9,487.17 on the Binance exchange at 4:18 pm yesterday. Binance saw $540,608,000 of bitcoin change hands.

The lowest price seen was $8,371.00 on Bitfinex’s exchange at 1:12 am today. Bitfinex’s 24 hour volume was $844,114,000.

The average price on the surveyed exchanges, as weighed by volume, was $8,990.96.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 56.7. 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.