Bitcoin Inches Upward, As Sluggish Market Shows Investor Caution

Investing, News | June 20, 2018 By:

Bitcoin continued its incremental creep upward. While any green arrows are good, the lack of volatility isn’t going to galvanize investors into a full-on rally. It seems the crypto market is training investors to be ultra-cautious, unlike the high-flying golden days of six months ago, when $1,000 price swing abounded and the future seemed limitless.

At mid-morning, bitcoin sat slightly above the $6,800 per single-coin mark, a tick short of a one percent gain. The rest of the cryptocurrency market was equally sluggish, with most of the top ten coins registering gains of one percent or less.

Where are the whales, you ask?  It could be that what we’re seeing is the new normal in price levels, where caution rules and small investors react to minor price swings.

Bitcoin market highlights for the 24 hours ending June 20, 2018 at 1:00 pm US Eastern Time

The highest price seen was $6,974.41 on the DigiFinex exchange at 12:37 pm today. DigiFinex saw $15,510,200 of bitcoin change hands.

The lowest price seen was $6,434.37 on Trade By Trade’s exchange at 9:25 am today. Trade By Trade’s 24 hour volume was $10,888,400.

The average price on the surveyed exchanges, as weighed by volume, was $6,732.59.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 49.0. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 17 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.