Crypto Markets Turn Around, Renewing Hopes For Fall Rally

Investing, News | August 31, 2018 By:

Investors were in a holiday mood heading into the US Labor Day long weekend, as yesterday’s minor dip in the crypto markets was in turnaround on Friday.

At mid-morning, bitcoin was back up to the $6,900 per single coin mark, a gain of slightly more than one percent over the last 24 hours. While not cause for rejoicing, it was heartening to see that yesterday’s down market was merely short-term profit-taking rather than any lack of overall confidence.

The rest of the cryptocurrency altcoins were also boosted. Notable outliers were EOS, which has been surging up now than governance issues are clearing, and Monero, which was up more than 11 percent thanks to a wildly optimistic investor report that pegged its future price around $39,000 per single coin.

Bitcoin market highlights for the 24 hours ending August 31, 2018 at 1:00 pm US Eastern Time

The highest price seen was $7,141.50 on the Cryptonex exchange at 2:07 am today. Cryptonex saw $20,863,886 of bitcoin change hands.

The lowest price seen was $6,637.02 on Cryptonex’s exchange at 2:55 pm yesterday. Cryptonex’s 24 hour volume was $20,863,886.

The average price on the surveyed exchanges, as weighed by volume, was $6,940.83.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 43.9. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 21 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.