Published: Mar 26, 2018 9:46 a.m. ET ‘Volatility begets activity, and a relative lack of volatility is what the market experienced…,’ Cboe options instructor Cryptocurrency prices were sharply lower Monday with the No. 1 digital currency trading to its lowest level is more than a week.
A single bitcoin
last traded at $8,044.11, down 4.8% on the day, and well off its overnight high of $8,489.61. Monday’s intraday low of $8,031.59 is the lowest level seen since March 18, according to news and research desk CoinDesk.
Despite the surging volatility in the equity sector, bitcoin is coming off its quietest week in a long time. Last week’s range in the Cboe Bitcon April contract
of $8,100 to $9,190 was the lowest range since the contract listed in late January, according to the Chicago Board Options Exchange.
”Looking at previous high-to-low weekly ranges using the April contract, the average move has been 22.5%. The largest weekly range was the week of Jan.
29 – Feb. 2 when futures moved 34.25%,” said Kevin Davitt, senior instructor at the Cboe. Read more from marketwatch.com…
thumbnail courtesy of marketwatch.com