I Don’t Like Mondays – Bitcoin’s Weekend Rally Fizzles As Cardano Jumpsbr>
Bitcoin soared over the weekend, but Monday brought cold, cruel reality back to the markets, as the rally that saw BTC climb as high as $8,600 on some exchanges last night head in the opposite direction as the sun rose.
At mid-morning, bitcoin was at the $7,900 level, with red arrows indicating a downward trend. The rest of the digital currency market marched in step, as most of the top ten coins retreated an average of four percent. The outlier was Cardano, which jumped up more than eight percent on news that it will be listed on the Huobi exchange.
Bitcoin market highlights for the 24 hours ending April 16, 2018 at 1:00 pm U.S. Eastern Time
The highest price seen was $8,577.33 on the HitBTC exchange at 9:06 pm yesterday. HitBTC saw $56,161,600 of bitcoin change hands.
The lowest price seen was $7,887.20 on Binance’s exchange at 9:30 am today. Binance’s 24 hour volume was $286,331,000.
The average price on the surveyed exchanges, as weighed by volume, was $8,158.82.
Volatility was nearly average, with the BlockTribune Volatility Index coming in at 50.8. 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.