Market Hits Lull for Bitcoin, ETH
It’s Hump Day for bitcoin traders, as they paused after a strong run-up in price to assess the horizon. Bitcoin held at the $2,300 single-coin price at mid-day, basically flat from yesterday’s level.
The Block Tribune Volatility Index, which measures trading movement in bitcoin, was down massively today from yesterday’s 61.8. Today’s BTVI is at 48.5 for the 24-hour period ending at noon Pacific time today. That clearly indicates watchful waiting, at least for now.
News on the pending activations of SegWit2x may have caused the lull. Several exchanges announced plans to suspend services on bitcoin in advance of the August 1 activation, as miners begin signaling support for the proposed fork that could result into bitcoin splitting into separate camps.
Ethereum was also basically in a holding pattern, up to $222 at mid-day from yesterday’s $216 mark at the same time. That marks a major leap from the bottom of $155, but still has a ways to go to hit last month’s $400 level. Continued fears of scaling problems and enormous digital denial of service (DDoS) attacks on initial coin offerings and existing sites have spooked the market.
Other altcoins were a mixed bag in price. Litecoin, which just activated Segregated Witness, was down five percent at $42; Dash was at $164, up slightly; Monero was down at just over $35; and Ripple was down five percent after a big gain yesterday, now sitting at $0.178177.
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TODAY’S 24-HOUR BITCOIN STATISTICS
Bitcoin market highlights for the 24 hours ending July 19, 2017 at 3:00 pm U.S. Eastern Time
The highest price seen was $2,400.16 on the Bittrex exchange at 4:00 am today. Bittrex saw $12,439,300 of bitcoin change hands.
The lowest price seen was $2,190.10 on BTC-E’s exchange at 9:12 pm yesterday. BTC-E’s 24 hour volume was $17,719,700.
The average price on the surveyed exchanges, as weighed by volume, was $2,322.35.
Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 48.5. 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.
