A lot of cryptocurrency investors went to bed last night feeling pretty good, as bitcoin rose as high as $9,700 on at least one exchange. But the morning-after hangover from a day where double digit gains abounded has proven nasty, as the market has made a U-turn.
Ethereum continues to melt down. This week, ETH hit $450 per token, its lowest point of the year and a severe drop from its high-water mark of just over $1,300.
While all cryptocurrencies have suffered price drops since December, ethereum’s has been particularly hit,
Volatility is in the air, as bitcoin and other cryptocurrencies see-saw, with the arrows trending downward. At mid-morning, bitcoin was at the $9,300 per single coin level, continuing its meltdown from near $12,000.
The rest of the markets continued yesterday’s red arrows, with most coins losing.
A bad day for bitcoin and other cryptocurrencies arrived, as a big pullback saw prices drop nearly 10 percent among major coins.
Bitcoin continued its plunge from near the $12,000 mark. At mid-morning, it sat at the $9,800 level, its first trip below the magic $10,000 mark in a week.
The lull in the volatile cryptocurrency markets continued today, as bitcoin and other digital currencies continued trading in a very narrow range. Most were up or down just a few percentage points as investors continued to watch warily on the sidelines.
Government regulation threats appear to have cooled most of the markets,
Day three of cryptocurrency held captive arrived Friday, as the markets continued in a very narrow trading range for the third consecutive day. Bitcoin was down a half percentage point, still sitting in the $11,000 per single coin level.
Other cryptocurrencies mimicked the process,
The bitcoin market continued to essentially march in place today, as the grandfather of digital currencies again traded in a narrow range.
Bitcoin this morning stood at the low $11,000 per single coin level, with slight variations on either side over the preceding 24 hours.
Bitcoin and other cryptocurrencies are back trading in a range, as everyone awaits the next big move up – or potentially, down.
At mid-morning, bitcoin sat in the mid-$11,000 range per single coin, barely budging off its Tuesday levels. Most of the other top ten in cryptocurrencies were up or down a few percentage points.
UPDATE: As of 2 PM PT/5 PM ET, the cryptocurrency market has begun to climb out of the ditch. Bitcoin is up to $11,375 per single coin, and most of the big board has turned green arrows, with ETH up five percent and Ripple up 20 percent.
It’s a recovery day, as the cryptocurrency markets stabilized after a steep plunge to start the week. Bitcoin was essentially sideways, moving little off its $15,000 base, while most other coins had little action.
The outlier was ethereum. In what some are calling “ether madness,”