30 May '17, 9pm

Bitcoin Returns to Rangebound Trading As Price Rollercoaster Subsides

Bitcoin Returns to Rangebound Trading As Price Rollercoaster Subsides

Global bitcoin prices experienced little volatility today – a notable contrast to the sharp fluctuations that have taken place over the last week. Overall, the price of bitcoin rose to as much as $2,329.64, before falling more than 5% to $2,218.74 at 15:45 UTC, according to the CoinDesk Bitcoin Price Index (BPI ). At the time of report, bitcoin prices had recovered somewhat, rising to $2,245.97. In comparison, bitcoin prices experienced a notable rally last week, reaching almost $2,800 on 25th May, before plunging more than $400 to almost $2,350 less than four hours later, additional BPI figures show. This price volatility continued after the sharp drop, as bitcoin recovered to $2,640 early on 26th May before falling once again, this time losing more than $700 and declining below $2,000 on 27th May. Bitcoin prices bounced back the following day, rising to $2,320.82 at 09:3...

Full article: http://www.coindesk.com/bitcoin-returns-rangebound-tradin...

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