30 Dec '16, 11pm

Suspense Lingers as Bitcoin's Price Eyes $1,000

Suspense Lingers as Bitcoin's Price Eyes $1,000

Markets Weekly is a weekly column analyzing price movements in the global blockchain token markets. This edition looks at the week from 23rd through 30th December. Bitcoin prices pushed higher this week, benefiting from strong market sentiment, but ultimately failed to break through key resistance and reach $1,000. For those who weren't watching eagerly, the digital currency rose to a nearly three-year high of $982.87 on 29th December, CoinDesk USD Bitcoin Price Index (BPI) data reveals, before declining to a press time value of $960. As noted in previous coverage, these figures represented signifcant gains, with the price rising almost $150 at points week over week . Still, the failure to surpass this level notably coincided with a glut of sell orders between $950 and $1,000 on exchanges Bitfinex , OKCoin and Bitstamp . "It’s a classic resistance level," said Tim Enneking...

Full article: http://www.coindesk.com/suspense-lingers-bitcoins-price-e...

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