What, Me Worry? Bitcoin and ETH in Holding Pattern

FinTech, Investing, News, Regulation | June 22, 2017 By:

Thursday’s cryptocurrency market report: steady as she goes, captain. At least for some cryptocurrency holders.

Following the disasterous flash-crash of ethereum on GDAX, and reports of network clogging on the ethereum network, things were surprisingly steady.  Bitcoin continued to hold at the $2,700 level for single-coin pricing, while ETH was surprisingly level at around $338 at mid-day, up slightly from Wednesday’s price.

Litecoin continued to maintain its pricing at around $47.50, with Ripple XRP at $0.292.333, down about five percent. Dash was at $178 and Monero at $47, both down but not drastically plummeting.

The big question now is where things are headed. Will the GDAX crash and the impending Aug. 1 fork for bitcoin cause a crisis of confidence in cryptocurrency?  Will the continuing problems with exchange outages cause worries?  And when will the SEC weigh in on the Winklevoss bid for an exchange-traded fund?  All of these have the potential to cause problems or create upward momentum, depending on their resolution.




Bitcoin market highlights for the 24 hours ending June 22, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $2,918.00 on the OkCoin Intl. exchange at 10:24 am today. OkCoin Intl. saw $5,525,260 of bitcoin change hands.

The lowest price seen was $2,554.16 on Poloniex’s exchange at 1:06 am today. Poloniex’s 24 hour volume was $33,979,000.

The average price on the surveyed exchanges, as weighed by volume, was $2,656.91.

Volatility was a bit lower than average, with our index coming in at 44.3. 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.