Ain’t No Cure For The Summertime Blues – Bitcoin and Other Cryptos Continue Sinking

Investing, News | August 10, 2018 By:

After a brief pause, the cryptocurrency markets continued retreating over the last 24 hours, slipping slightly from yesterday’s incremental rally.

At mid-morning, bitcoin was at the $6,400 level, down a few tenths, and will close out the week having lost about $800 off last week’s top prices per single coin. Volume was low, indicating today’s drop represents, perhaps, the final capitulators in the most recent run-up.

Ethereum and EOS continued slipping, with EOS down about five percent and now about half of what it traded at for last month’s kick-off. The only good news on the day among the top ten coins came from Stellar, up just over three percent. But even that is tempered by the fact that it has recently dropped about 24 percent, making it likely that bargain-hunters are driving today’s rise.

Bitcoin market highlights for the 24 hours ending August 10, 2018 at 1:00 pm US Eastern Time

The highest price seen was $7,137.60 on the B2BX exchange at 7:19 am today. B2BX saw $34,098,931 of bitcoin change hands.

The lowest price seen was $5,021.04 on B2BX’s exchange at 11:07 pm yesterday. B2BX’s 24 hour volume was $34,098,931.

The average price on the surveyed exchanges, as weighed by volume, was $6,481.61.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 48.0. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 16 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.