Bitcoin Calm, But Thunderbirds Are Go for More Increases

ICO News, Investing, News | July 21, 2017 By:

Things calmed down considerably in the cryptocurrency markets Friday. Yesterday’s massive bitcoin run-up and the attendant boosts to other altcoins settled into a sideways pattern at mid-day, with prices holding steady. Yet the good news on the blockchain expansion problem seemingly being solved promised good things to come.

Bitcoin’s single-coin price sat at $2,655 at mid-day, just incrementally higher than Thursday’s price, but massively higher than it was a week ago. News that the hard fork that would split bitcoin into two separate camps appears unlikely at this point has calmed the storm that erupted last week, as investors took a breath to determine next steps.

The Block Tribune Volatility Index, which measures trading movement in bitcoin, reflected that pause. On Thursday, the BTVI was at an all-time high of 82.1.  Today, it sat at exactly 50, reflecting an average level of price movement.

News of two massive hacks on ethereum platforms this week didn’t move the ETH market much. Today ether sat at $222 at mid-day, still up from its bottom of $155 last weekend. Fingers are in the air as to whether the hacks represent serious issues or are circumstantial, but continued fears of scaling problems and enormous digital denial of service (DDoS) attacks on initial coin offerings may cause some doubt going forward.

Other altcoins were a mixed bag in price. Litecoin, which just activated Segregated Witness, was up at $45; Dash was down slightly after it took a big leap up on news it was now in the Apple app store, now at $184;  Monero continued the $40 level; and Ripple was up slightly, now sitting at $0.18438.



Bitcoin market highlights for the 24 hours ending July 21, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $2,935.00 on the Bitstamp exchange at 7:24 pm yesterday. Bitstamp saw $72,556,900 of bitcoin change hands.

The lowest price seen was $2,285.10 on Kraken’s exchange at 3:12 pm yesterday. Kraken’s 24 hour volume was $44,852,500.

The average price on the surveyed exchanges, as weighed by volume, was $2,737.34.

Volatility was nearly average, with the BlockTribune Volatility Index coming in at 50.0. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 11 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.