Bitcoin Is Back Over $7K Thanks To Weekend Rally

Investing, News | September 3, 2018 By:

Bitcoin rallied back above the magic $7,000 mark over the weekend, displaying renewed vigor after a brief round of profit-taking.

As of mid-morning on Monday (a holiday in the US), bitcoin sat at the $7,200 mark, a gain of about half a percent. Volume was light, but the weekend’s vault from the high $6,000 per single coin mark was a good sign heading into the month.

The news was not as good among all the other alt-coins, which generally were down about one to two percent. The outlier was Monero, which sported a gain of more than seven percent. The coin’s price has been inflated by a report touting it as hitting the $39,000 mark in the next few years, a wildly optimistic view, to be sure.

Bitcoin market highlights for the 24 hours ending September 3, 2018 at 1:00 pm US Eastern Time

The highest price seen was $7,469.86 on the CoinsBank exchange at 4:01 pm yesterday. CoinsBank saw $16,363,391 of bitcoin change hands.

The lowest price seen was $6,980.17 on CoinsBank’s exchange at 3:19 am today. CoinsBank’s 24 hour volume was $16,363,391.

The average price on the surveyed exchanges, as weighed by volume, was $7,258.89.

Volatility was lower than average, with the BlockTribune Volatility Index coming in at 39.0. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 19 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.