Bitcoin Continues To Rollercoaster, As Crypto Market Gives Back Weekend Gains

Investing, News | April 9, 2018 By:

Bitcoin is up. Wait, what?  Bitcoin is down. That was the tale of the weekend, as a momentary surge in prices proved to be an illusion for the legacy cryptocurrency.

At mid-morning on Monday, bitcoin languished in the $6,700 per single coin range, having given back all of the gains it made over the weekend. Similarly, the rest of the cryptocurrency markets were down slightly, as obvious day trading kept things pretty much where they were at Friday’s close.

Persistent rumors that the current slump is mostly about small-time investors bailing while the big boys are buying continue to circulate. Whether that’s wishful thinking, or portends a sustained move-up in the market soon, remains to be seen.

Bitcoin market highlights for the 24 hours ending April 9, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $7,194.20 on the Huobi exchange at 5:12 am today. Huobi saw $116,074,000 of bitcoin change hands.

The lowest price seen was $6,682.90 on Kraken’s exchange at 10:12 am today. Kraken’s 24 hour volume was $58,563,900.

The average price on the surveyed exchanges, as weighed by volume, was $6,962.70.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 48.8. 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.