Bitcoin Up On Good News From Japan, Bolstering The Rest Of The Market

Investing, News | April 3, 2018 By:

Good news in the market gave bitcoin and other cryptocurrencies a bounce today, as the markets responded to investment news from Japan.

Online broker Monex is considering acquiring Coincheck, the exchange that suffered a massive hack earlier this year. The confidence of the big player gave hope to those seeking a bitcoin turnaround and sustained rally from its current $7,400 level per single coin.

That news balanced reports today on the first quarter in the cryptocurrency markets, which saw a drastic reversal of fortunes that wiped nearly $120 million in value out.

Other cryptocurrencies also were boosted today by bitcoin’s surge. Ether was back over the $400 mark, its first good news in some time, while Bitcoin Cash is now valued at more than $725 per single coin. Lagging Litecoin also was up more than six percent, now at $126 per single coin.

Bitcoin market highlights for the 24 hours ending April 3, 2018 at 1:00 pm U.S. Eastern Time

The highest price seen was $7,445.10 on the Huobi exchange at 12:30 pm today. Huobi saw $154,297,000 of bitcoin change hands.

The lowest price seen was $6,906.73 on Bitstamp’s exchange at 4:54 pm yesterday. Bitstamp’s 24 hour volume was $121,172,000.

The average price on the surveyed exchanges, as weighed by volume, was $7,211.06.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 48.9. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 8 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.