Bitcoin, Other Cryptos Calm in Daily Trading

Blockchain, FinTech, Investing, News | June 7, 2017 By:

Bitcoin pricing calmed today, as Tuesday’s sharp run-up settled down to the $2,700 per single coin price range by mid-day.

Tuesday saw some exchanges top the $3,000 single coin price for the first time, with most exchange price ceilings in the $2,900 range. That was before profit-takers reduced it to around the mid $2,800 mark by the US evening hours.

Other cryptocurrencies had little movement at mid-day Wednesday. Ethereum’s ETH was around $261, with Dash at around $147, and Monero at $55 (up 11 percent), Litecoin down slightly at around $29, and Ripple around $0.287369.

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TODAY’S STATISTICS

Start time = ‘2017-06-06 12:08:45 Eastern time
End time = ‘2017-06-07 12:08:45   Eastern time

highest bitcoin price=$3049.69′
highest_price_at=’2017-06-06 18:48:00′
highest_price_exchange=’OkCoin Intl.’
highest_price_exchange_volume=‘7939850’
highest_volume_exchange=’BitMEX’
highest_volume_exchange_volume=’124791000′

lowest bitcoin price=$2610.00
lowest_price_at=’2017-06-06 12:54:00′
lowest bitcoin price_exchange=’xBTCe’
lowest_price_exchange_volume=’22061900′
lowest bitcoin volume_exchange=’Gatecoin’
lowest_volume_exchange_volume=‘6343790’

weighted bitcoin average price=’2827.39′
today’s price standard deviation = ‘32.85’
today’s standard deviation z-score = ‘-0.28’

The above information was culled and consolidated from 13 different exchanges. It includes exchanges where USD/BTC is traded and only those exchanges that had at least 1% of the total volume of USD/BTC trades during the measurement period.

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Just after the May 29 US Memorial Day holiday weekend, bitcoin’s single-coin prices hovered around $2,248 on several exchanges. Other cryptocurrencies also were holding steady, with ethereum’s ETH token the biggest gainer, rising to the $203 level at mid-day. Litecoin was around $25, Dash at $123, and Monero just above $43. Ripple’s XRP was down slightly, sitting around 0.218953.

Buoyed by the arrival of the long-awaited hard fork, the markets had revved as rumors swirled that the US Securities and Exchange Commission’s review of an appeal on the Winklevoss exchange-traded fund bid might arrive soon. Bitcoin has doubled in price since it first topped $1300 in March as the world awaited the initial SEC ruling. After a brief dip into $900 territory, it’s been mostly blue skies and elevating price levels ever since.

Increased worldwide trading, Japan’s legalization of bitcoin as a monetary unit, Korea’s startup frenzy, and improved outlooks from Russia and India toward easing regulations in those countries have been cited as reasons for the long-term rally.