Market Analysis Report (12 Oct 2017)

Market Update

Since the 8th of October, the Bitcoin price has increased from $4,450 to almost $5,000, sustaining a strong upward momentum as a result of the growing confidence from investors and traders over Bitcoin’s short and mid-term growth.

Yesterday, the Bitcoin price reached a high of $4932, very close to the $5,000 level. However, mass selling at the end of the day has pushed the Bitcoin price back below the $4850 levels.

At press time, the Bitcoin price is sitting at $4,919 and has risen 2.6% in the last 24 hours, with over $350M worth of BTC exchanged on the BTC/USD pair, representing a 25% share of daily volume, second only to the JPY at 61%.

Yesterday, the Ethereum price continued to tread water at the $300 mark as it awaits the official release of Byzantium, the first phase of the network’s next major protocol upgrade.

Currently sitting at $305, the Ethereum price has risen up to 1.2% in the last 24 hours, with over $80M worth of Ethereum exchanged in the past 24 hours on the ETH/USD pair, which has a 36% share of daily trading volume.

See live charts here

Leave a Reply