Legacy Bitcoin Slumps As Money Pours Into Bitcoin Cash, Bitcoin Gold

Investing, News | December 20, 2017 By:

Market players took some profits from legacy bitcoin (BTC) today, but poured resources into Bitcoin Cash and Bitcoin Gold. Both of the upstart cryptocurrencies experienced enormous climbs, with Bitcoin Cash now sitting just below $4,000 per single coin and Bitcoin Gold above $400.

The rest of the cryptocurrency market stalled, watching the enormous volumes pouring into the alt-bitcoins. Red arrows abounded as ethereum, Litecoin, and Ripple slumped. Taking the green up elevator were Dash (up 32 percent to just below $1,600) and Monero (up more than 15 percent to $435).

Bitcoin (BTC) market highlights for the 24 hours ending December 20, 2017 at 1:00 pm U.S. Eastern Time

The highest price seen was $18,360.00 on the GDAX exchange at 1:06 pm yesterday. GDAX saw $874,589,000 of bitcoin change hands.

The lowest price seen was $15,636.40 on OKEx’s exchange at 9:00 pm yesterday. OKEx’s 24 hour volume was $290,441,000.

The average price on the surveyed exchanges, as weighed by volume, was $17,030.02.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 55.7. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 12 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.