Bitcoin Rallies As Cryptocurrency Market Finally Shows A Majority Of Green Arrows

Investing, News | May 29, 2018 By:

The bitcoin tide turned today, as the losses of the last week were reversed in what amounts to a mini-rally. But the upward momentum, however minor, was welcome relief from the relentless tide of bad news that’s lately been the norm.

At mid-morning, bitcoin was up to $7,400 per single coin, up nearly three percent over the last 24 hours. Other coins in the top ten showed renewed vigor as well, with ether up more than five percent and Bitcoin Cash approaching a six percent gain. Litecoin, Ripple and Cardano (boosted more than 11 percent, the day’s major gainer) were also heading north on the price charts.

The only down notes were from EOS (down close to two percent) and TRON, which dipped less than one percent.

Bitcoin market highlights for the 24 hours ending May 29, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $8,345.94 on the Simex exchange at 3:25 pm yesterday. Simex saw $25,745,900 of bitcoin change hands.

The lowest price seen was $6,761.01 on Simex’s exchange at 4:31 am today. Simex’s 24 hour volume was $25,745,900.

The average price on the surveyed exchanges, as weighed by volume, was $7,218.11.

Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 55.9. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 14 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.