Bitcoin Rally Takes A Breather – Rest Of The Crypto Market Retracesbr>
The bitcoin rally stalled overnight after a significant run-up, and now the question is whether the bull run has legs.
At mid-morning, bitcoin stood at $7,300 per single coin, down percentage points off Wednesday’s highs. The indicators are that this is a pause rather than the start of a retreat, as bitcoin has rallied significantly over the last month from its previous lows in the high $5,000 range.
The rest of the cryptocurrency market did not fare as well, with Wednesday’s gains essentially given back on the rest of the top ten coins, as profit-taking on their mid-week success was quickly enacted.
Bitcoin market highlights for the 24 hours ending July 19, 2018 at 1:00 pm US Eastern Time
The highest price seen was $7,821.29 on the DigiFinex exchange at 2:19 pm yesterday. DigiFinex saw $58,792,200 of bitcoin change hands.
The lowest price seen was $7,246.18 on Simex’s exchange at 4:43 pm yesterday. Simex’s 24 hour volume was $68,079,400.
The average price on the surveyed exchanges, as weighed by volume, was $7,382.53.
Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 46.9. 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.