Crypto Markets Explode Over Last 24 Hours, Surging Higher On Heavy Volume

Investing, News | September 21, 2018 By:

The sleeping giant has awakened. After weeks of listless moves, the cryptocurrency markets suddenly went boom over the last 24 hours, as if the market suddenly realized that there were bargains to be had.

As of early morning, bitcoin was at $6,700, up close to five percent on extremely heavy volume. Billionaire Michael Novogratz may be the market mover, as he claimed at the Yahoo! Finance conference that we have reached the bottom of the cryptocurrency sell-off, and that institutional money is poised to make an impact.

That encouraging news seemed to galvanize the rest of the market. Ether is now up to $228, while Ripple’s XRP gained an incredible 60 percent as news of its new payments system has begun sinking in.

Overall, it was a market that seemed eager to move up, as good news about products like Stellar’s TransferTo is starting to create some buzz. Whether the gains can be sustained over the next few days and weeks remains to be seen, but today’s surge is welcome news for those investors who have hung in there over the summer.

Bitcoin market highlights for the 24 hours ending September 21, 2018 at 1:00 pm US Eastern Time

The highest price seen was $6,831.28 on the OOOBTC exchange at 11:55 am today. OOOBTC saw $27,168,638 of bitcoin change hands.

The lowest price seen was $6,343.55 on OOOBTC’s exchange at 5:49 pm yesterday. OOOBTC’s 24 hour volume was $27,168,638.

The average price on the surveyed exchanges, as weighed by volume, was $6,590.57.

Volatility was greater than average, with the BlockTribune Volatility Index coming in at 59.6. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 19 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.