Bitcoin and Crypto Markets Continue To See-Saw Between Hope and Despair
Does motion equal progress? It was a strong start to the week, one that saw bitcoin and the rest of the cryptocurrency markets with positive gains across the board. The problem is that the gains merely offset a prior price retreat, leaving the coins in relatively the same position.
At mid-morning, bitcoin stood at the $6,600 level per single coin, up close to four percent from its weekend price. The rest of the market followed, with EOS, Bitcoin Cash and Litecoin particularly strong, showing gains of more than six percent.
The entire market is still looking for a sustained rally, and this may not prove to be the one. Still, any green arrows are a sign of continued viability for all cryptocurrency, even as it continues to be demonized in some quarters, as in its recent blame for 2016 US presidential election hacking.
Bitcoin market highlights for the 24 hours ending July 16, 2018 at 1:00 pm US Eastern Time
The highest price seen was $6,890.83 on the DigiFinex exchange at 12:07 pm today. DigiFinex saw $38,097,700 of bitcoin change hands.
The lowest price seen was $6,321.94 on Simex’s exchange at 10:25 pm yesterday. Simex’s 24 hour volume was $43,633,600.
The average price on the surveyed exchanges, as weighed by volume, was $6,466.66.
Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 56.2. A higher number indicates greater price volatility with 50 describing an average day.
These statistics were consolidated from 15 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.
