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.

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TODAY’S 24-HOUR BITCOIN STATISTICS

 

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.