Bitcoin and Other Cryptocurrencies Suffer A Bad Hangover

Investing, News | April 25, 2018 By:

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. During the wee, small hours in the US, someone took away the punch bowl and the party may be over.

Bitcoin is back under the $9,000 mark per single coin at mid-morning, a give-back of the gains of the last few days. The rest of the market followed suit, with 10 percent or more drops over the last 24 hours. Ether is at $616, Bitcoin Cash at $1276, Litecoin at $145 and Ripple XRP at $0.80, all plunges of more than 10 percent.

The lone outlier was EOS, which has seen exponential growth in the last month. Today, it was up slightly more than one percent to $14.27,  a good sign in a market that was mostly heading south.

Bitcoin market highlights for the 24 hours ending April 25, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $9,762.38 on the Binance exchange at 10:48 pm yesterday. Binance saw $748,622,000 of bitcoin change hands.

The lowest price seen was $8,610.01 on GDAX’s exchange at 10:54 am today. GDAX’s 24 hour volume was $290,990,000.

The average price on the surveyed exchanges, as weighed by volume, was $9,314.41.

Volatility was greater than average, with the BlockTribune Volatility Index coming in at 61.9. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 7 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.