Bitcoin Surges, Pulling Crypto Markets Strongly Into Green

Investing, News | July 2, 2018 By:

Last week’s gloom and doom has vanished like the morning dew, as bitcoin roared back to life over the weekend, dragging the rest of its cryptocurrency comrades along for the ride.

After a period where bitcoin dropped down into the $5,000 range amidst speculation it could be headed far lower, the market rebounded strongly. In the last 24 hours, bitcoin has gained just over three percent, now sitting at $6,500 per single coin. The rest of the market followed suit, with gains of four to seven percent abounding in the top ten coins.

Are happy days here again?  Or is this the shoulder in a head and shoulders pattern?  With a US holiday in the middle of this week, it should prove to be an interesting time. And you know that old Chinese saying about interesting times…

Bitcoin market highlights for the 24 hours ending July 2, 2018 at 1:00 pm US Eastern Time
The highest price seen was $6,987.97 on the DigiFinex exchange at 10:13 am today.  DigiFinex saw $33,191,100 of bitcoin change hands.
The lowest price seen was $6,019.39 on CoinsBank’s exchange at 5:19 am today.  CoinsBank’s 24 hour volume was $15,511,300.
The average price on the surveyed exchanges, as weighed by volume, was $6,410.42.
Volatility was a bit above average, with the BlockTribune Volatility Index coming in at 53.9.  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.