29 Apr '16, 8pm

Bitcoin Price Ends Turbulent Week as Bull Run Fades

Markets Weekly is a column analyzing price movements in the global digital currency markets, and the technology's use case as an asset class. Bitcoin prices fluctuated significantly during the week ending 29th April, reaching a yearly high of $470 before falling below $440. Global bitcoin prices enjoyed a strong rally at the beginning of the week, rising 4.2% from $451.10 at 12:00 UTC on 22nd April to a high of $470.16 at 18:00 UTC on 26th April. This price represented the digital currency’s strongest value since 7th December, 2015, when it reached an inter-day high of $470.88, CoinDesk BPI data shows. Both a short squeeze and retail investors helped fuel this rally, Petar Zivkovski, director of operations at bitcoin trading forum Whale Club, told CoinDesk. Zivkovski offered Whaleclub internal data backing up his assertion, stating that prior to the decline in price, his u...

Full article: http://www.coindesk.com/bitcoin-price-turbulent-bull-run/

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