Stalled Crypto Market Sees Bitcoin Hold at $4,100 Level

Investing, News | September 29, 2017 By:

Bitcoin continued holding at the $4,100 level today at mid-day, as investors cautiously surveyed a crypto landscape that has several important changes on the horizon.

Legacy bitcoin (BTC) was down percentage points again after gaining $700 in the last week. That caused the rest of the market to fall as well. Ethereum’s ether was back below $300, down to $290, a loss of more than two percent.

Litecoin was at $53, while Ripple XRP was at $0.194993, down one percent after a solid gain on Wednesday. Bitcoin Cash (BCC) was at $439, down from earlier in the week, while Dash ($327) and Monero ($96) both dipped.

The Block Tribune Volatility Index, which measures price swings in bitcoin, reflected the torpor. It was down to BTVI 45.5 indicating a below-average day over the last 24 hours.

Updates to Ethereum and another potential fork for bitcoin may be weighing on the minds on investors, as are recent remarks from Wall Street and increasing scrutiny from regulators. All of it adds up to a cautious time for market traders, at least in the short term.


Bitcoin market highlights for the 24 hours ending September 29, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $4,300.00 on the BTCC exchange at 12:06 pm today. BTCC saw $17,648,400 of bitcoin change hands.

The lowest price seen was $3,949.97 on Bittrex’s exchange at 11:54 pm yesterday. Bittrex’s 24 hour volume was $38,170,800.

The average price on the surveyed exchanges, as weighed by volume, was $4,151.92.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 45.5. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 9 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.