The Surge Continues For Bitcoin, Other Crypto

ICO News, Investing, News | July 18, 2017 By:

The bitcoin resurgence continued today, bolstered by news that 43 percent of miners have already activated the SegWit2x block enhancements.

The renewed single-coin price momentum saw bitcoin sitting at the $2,300 level at mid-day, up nearly 10 percent from Monday and a steep climb from the $1,700 bottom-feeder level of the weekend.

The Block Tribune Volatility Index, which measures trading movement in bitcoin, was down slightly today from yesterday’s all-time high. The BTV is now at 61.8 for the 24-hour period ending at noon Pacific time today.

Traders have been spooked by warnings that exchanges would begin halting trades at the end of the month in advance of the planned August 1 changeover to Segregated Witness on a large number of existing chains. Bitcoin may be split into competing coins at that point, if some pundits are correct. But evidently, more are getting on board with the idea that things will continue as normal without a major fork.

Ethereum is also rebounding nicely, up to $216 at mid-day. That marks a major leap from the bottom of $155, but still has a ways to go to hit last month’s $400 level. Continued fears of scaling problems and enormous digital denial of service (DDoS) attacks on initial coin offerings and existing sites have spooked the market.

Other altcoins were also climbing nicely in price. Litecoin, which just activated Segregated Witness, was up at $44; Dash was at $161; Monero at just over $37; and Ripple gained 17 percent to $0.188035.



Bitcoin market highlights for the 24 hours ending July 18, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $2,362.05 on the Bittrex exchange at 11:18 am today. Bittrex saw $15,287,700 of bitcoin change hands.

The lowest price seen was $2,081.02 on Bittrex’s exchange at 9:30 pm yesterday. Bittrex’s 24 hour volume was $15,287,700.

The average price on the surveyed exchanges, as weighed by volume, was $2,240.24.

Volatility was greater than average, with the BlockTribune Volatility Index coming in at 61.8. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 9 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.