Bitcoin Holds On, As AltCoins Go Into Sideways Mode

Investing, News | August 22, 2018 By:

Bitcoin spiked $400 in an hour earlier today, but then settled back to yesterday’s level of $6,400 at mid-morning. Trading volume was moderate, with the anomaly blamed in some quarters on a massive short bet by a trader or trading team.

The rest of the market was sideways at mid-morning. with gains or losses of one percent or less.

In the day’s big news, cryptocurrency trading platform BitMEX said it suffered a distributed denial-of-service attack, forcing it offline. Some blamed the short shutdown on the price spike, although the company has not pointed a finger at that issue.

Bitcoin market highlights for the 24 hours ending August 22, 2018 at 1:00 pm US Eastern Time

The highest price seen was $6,835.73 on the Coinsuper exchange at 9:37 pm yesterday. Coinsuper saw $52,306,782 of bitcoin change hands.

The lowest price seen was $6,382.54 on OOOBTC’s exchange at 1:01 pm yesterday. OOOBTC’s 24 hour volume was $64,707,902.

The average price on the surveyed exchanges, as weighed by volume, was $6,605.20.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 57.5. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 16 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.