Bitcoin Is Code Red As Cryptocurrency Markets Dive

Investing, News | March 7, 2018 By:

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.

Other cryptocurrencies also marched down, with ethereum below $800 and Litecoin at $181. Bitcoin Cash has a ten percent drop and is just above $1,000.

Bitcoin market highlights for the 24 hours ending March 7, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $10,889.30 on the Binance exchange at 7:54 pm yesterday. Binance saw $452,184,000 of bitcoin change hands.

The lowest price seen was $9,480.00 on Kraken’s exchange at 12:30 pm today. Kraken’s 24 hour volume was $125,168,000.

The average price on the surveyed exchanges, as weighed by volume, was $10,618.93.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 49.2. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 8 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.