Crypto Markets Continue Solid Performance

Investing, News | August 10, 2017 By:

Optimism continued in the cryptocurrency trading community today, as most of the majors were up slightly, led by a nearly three percent rise in legacy bitcoin (BTC).

At mid-day, the single-coin price on legacy bitcoin stood at $3,308, as the gains of the last week held steady. Bitcoin Cash (BCC) continued to swing wildly, standing at nearly $288, down from yesterday, but continuing to avoid falling off the pricing cliff.

The good news was found in ethereum’s ether, which topped the magic $300 level. It’s still down from its $400 high-water mark of June, but continues a resurgence from the $188 level depths it reached at bottom.

Elsewhere, Litecoin dipped to $47, down slightly from Wednesday; Dash was incrementally higher at $202; and Monero held on at just slightly above the $50 mark. Ripple XRP at $0.182428 had a minor price dent from the day before.

As the bitcoin wars cool – Segregated Witness is now locked-in with the legacy bitcoin miners and awaits its final updates by all – the main question is, how far is up?

Predictions on all sorts of outlandish valuations for bitcoin have been floated by some pretty smart people, and deep-pocketed investors (well, some of them) have shown no qualms about diving into the market in a deep-pocketed way. With the stock market booming as well, there seems to be a wealth effect going on with the capital markets. Whether that means further joy or ends in tears is a matter for the financial Gods to sort in the coming months.

The Block Tribune Volatility Index, which measures pricing swings in legacy bitcoin, sat at BTVI 47.4, indicating slightly above-average volatility.



Bitcoin market highlights for the 24 hours ending August 10, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $3,470.00 on the BTCC exchange at 12:30 pm today. BTCC saw $11,785,500 of bitcoin change hands.

The lowest price seen was $3,292.70 on Bitfinex’s exchange at 7:00 pm yesterday. Bitfinex’s 24 hour volume was $60,403,800.

The average price on the surveyed exchanges, as weighed by volume, was $3,371.62.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 47.4. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 10 different exchanges. It includes only USD/BTC trades and only on those exchanges that had at least 1% of the total volume of USD/BTC trades during the measurement period.