Red Monday: Bitcoin, Other Cryptos Dive

FinTech, Investing, News | June 26, 2017 By:

If today’s cryptocurrency statistics were a war movie, the submarine would start sounding the “Dive!” alarm quite loudly. Yes, it was that bad, as all of the major coins broke downward, some severely.

After several days of cryptocurrency market price stability, the traders finally made their judgment, sending single-coin prices plummeting. Bitcoin headed south to $2,390 by mid-day, down from the $2,700 level of last week; ethereum was taking a major hit, down 20 percent to $247; Litecoin continued its recent decline, sitting at the $38 level after testing $50; and Dash, Ripple, and Monero were all down double-digit percentages.

Is this the start of a major correction?  Will some see it as a buying opportunity?  What about the network issues with bitcoin and ethereum?  Will the exchanges manage to get their acts together, or will we see more “flash crashes” and problems with slow response times as the market moves?

Some hard questions need to be asked and answered in the coming days and weeks. Hold onto your seats.



Bitcoin market highlights for the 24 hours ending June 26, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $2,876.48 on the OkCoin Intl. exchange at 6:36 pm yesterday. OkCoin Intl. saw $7,760,730 of bitcoin change hands.

The lowest price seen was $2,178.77 on Bittrex’s exchange at 1:30 pm today. Bittrex’s 24 hour volume was $7,251,670.

The average price on the surveyed exchanges, as weighed by volume, was $2,463.41.

Volatility was nearly average, with our index coming in at 50.9. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 12 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.