Market Continues To Press “Hold” on Pricingbr>
The cryptocurrency market continued to stand still today, as anxious investors warily eyed the forthcoming “Independence Day” activation of the BIP91 blockchain protocol, a move that may roil the markets.
News that a rival group is devising a different blockchain expansion solution than the one supported by a large majority of minors had little immediate effect, even though the result of that decision will split bitcoin into two coins. Some skeptics question whether there is adequate support for the other solution.
Bitcoin sat at the upper $2,500 level at mid-day, up slightly from Wednesday. The Block Tribune Volatility Index, which measures trading movement in bitcoin, was at BTVI 47.1, denoting a less-than-average day.
Other cryptocurrencies were also in a holding pattern. Ethereum was essentially flat, holding at the $202 level in the wake of the US Securities and Exchange decision to make initial coin offerings subject to its regulations; while Litecoin, Dash, Ripple XRP and Monerobarely moved from Wednesday’s pricing levels.
TODAY’S 24-HOUR BITCOIN STATISTICS
The highest price seen was $2,700.00 on the BTCC exchange at 10:06 pm yesterday. BTCC saw $6,604,900 of bitcoin change hands.
The lowest price seen was $2,403.72 on Quoine’s exchange at 2:48 pm today. Quoine’s 24 hour volume was $4,981,070.
The average price on the surveyed exchanges, as weighed by volume, was $2,538.14.
Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 47.1. A higher number indicates greater price volatility with 50 describing an average day.
These statistics were consolidated from 13 different exchanges. It includes only USD/BTC trades and only on those exchanges that had at least 1% of the total volume of USD/BTC trades during the measurement period.