Digital Currency Markets Slumber As Regulators, Futures Options and Other Cautions Aboundbr>
Day three of cryptocurrency held captive arrived Friday, as the markets continued in a very narrow trading range for the third consecutive day. Bitcoin was down a half percentage point, still sitting in the $11,000 per single coin level.
Other cryptocurrencies mimicked the process, essentially standing still and trading up or down mere percentage points. The outlier was Ripple XRP, down more than five percent to $1.24, continuing its plunge from $3.50 per coin.
Investors are warily watching the expiration of the first bitcoin futures contracts this week, as well as an increased drumbeat for more government regulations by various sovereign officials. Bad news continues to emanate from South Korea, where the regulators appear determined to put the brakes on its burgeoning digital currency markets. All those factors have made caution the watchword among crypto holders.
Bitcoin market highlights for the 24 hours ending January 26, 2018 at 1:00 pm U.S. Eastern Time
The lowest price seen was $10,275.90 on HitBTC’s exchange at 4:55 am today. HitBTC’s 24 hour volume was $68,408,300.
The average price on the surveyed exchanges, as weighted by volume, was $11,059.10.
Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 49.5. A higher number indicates greater price volatility with 50 describing an average day.
These statistics were consolidated from 13 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.