Cryptocurrency Markets Rising In Strong Trading Rebound

Investing, News | October 15, 2018 By:

The cryptocurrency markets rebounded strongly today off last week’s plunge, surging forward with gains of two to five percent and more.

In early trading, bitcoin was up more than 5.5%, sitting at the $6,600 mark, or about where it was before last week’s US stock crash and resulting futures calls tanked it. Volume was enormous, indicating a huge push back against what had been a gloomy situation.

The Bitfinex exchange was particularly active, as a few whales may have pumped up the prices temporarily, causing it to be an outlier from other exchange prices. Several huge trades were executed, raising eyebrows on whether it may be a pump and dump in progress.

Ether was up close to five percent, rising comfortably back over the $200 mark and now sitting at $210. Ripple XRP was up close to seven percent, while Bitcoin Cash was bumped three percent. Stellar and EOS rounded out the morning’s big gains, also up close to five percent.

Bitcoin market highlights for the 24 hours ending October 15, 2018 at 1:00 pm US Eastern Time

The highest price seen was $7,700.30 on the Bitfinex exchange at 2:55 am today. Bitfinex saw $524,067,138 of bitcoin change hands.

The lowest price seen was $6,144.46 on Cryptonex’s exchange at 8:43 pm yesterday. Cryptonex’s 24 hour volume was $40,108,752.

The average price on the surveyed exchanges, as weighed by volume, was $6,566.33.

Volatility was unusually high, with the BlockTribune Volatility Index coming in at 94.0. 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.