Price Volatility Continues for Bitcoin, Other Cryptos

Investing, News | August 16, 2017 By:

Above-average pricing volatility continued today for legacy bitcoin (BTC), as it held firm to a near $4,300 level price for a single coin at mid-day.

The Block Tribune Volatility Index, which measures pricing swings in legacy bitcoin, sat at BTVI 58.1, indicating above-average volatility in the last 24 hours. It was, however, a cooling off from yesterday’s torried BTVI 71.1.

Last August is usually a time when other markets have known to hit a lull, but the BTC action has been furious this month.  Investors are clearly giddy that the SegWit2x controversy has receded a bit, and the tub-thumbing analyst predictions of bitcoin prices topping $7,500 surely are firing some imaginations.

Bitcoin Cash (BCC) was back over the $300 single-coin price level today, a rise from yesterday’s dive to the $289 level. The upstart BCC has yet to develop a trading range pattern, bouncing between extremes in the upper $200 to mid-$300 range.

Ethereum’s ether was back in the hunt today, hurtling back over the $300 mark to $302 at mid-day, a nearly five percent rise.

Ripple’s XRP continued its slump, down more than two percent to $0.157457 at mid-day. Litecoin was at $44.68 at mid-day, rebounding from yesterday’s downer. Dash took a major leap forward, up 15 percent to $230 from yesterday’s $199, while Monero was up slightly to $48.57 at mid-day.

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TODAY’S 24-HOUR BITCOIN STATISTICS

Bitcoin market highlights for the 24 hours ending August 16, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $4,365.00 on the Kraken exchange at 12:18 pm today. Kraken saw $34,306,800 of bitcoin change hands.

The lowest price seen was $3,926.06 on Bitstamp’s exchange at 2:18 am today. Bitstamp’s 24 hour volume was $56,553,900.

The average price on the surveyed exchanges, as weighed by volume, was $4,117.69.

Volatility was greater than average, with the BlockTribune Volatility Index coming in at 58.1. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 10 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.