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Bitcoin Price Breaks Sleepy Spell to Jump Above $950
Bitcoin prices are up more than 3% since the start of the day’s trading, climbing above $950 for the first time in weeks.
Bitcoin prices are up more than 3% since the start of the day’s trading, climbing above $950 for the first time in weeks.
STORY CONTINUES BELOW
The average price hit a high of $959.37 from an open of $920.24, according to the CoinDesk Bitcoin Price Index (BPI). BPI data shows that the price of bitcoin hasn’t exceed $950 since 6th January.
The rise above $950 came after several days of relatively stable trading, in which the price of bitcoin ranged between roughly $910 and $922, according to trading data.
At press time, the average price of bitcoin is $956.32.
CNY-denominated markets have climbed nearly 11%, hitting a press time high of ¥6,629.34. The current price of ¥6,608.70 represents a rise of roughly 10.7% above today’s UTC open of ¥5,961.77.
The move comes amid a shift in the global exchange landscape, which has seen its lines redrawn after major bourses in China moved to add trading fees.
As a result, volume has shifted – at least for now – toward no-fee markets. Observers, however, argue that this trend will be short-lived as those exchanges look to add fees of their own.
Image via Shutterstock
Stan Higgins
A member of CoinDesk's full-time Editorial Staff since 2014, Stan has long been at the forefront of covering emerging developments in blockchain technology. Stan has previously contributed to financial websites, and is an avid reader of poetry. Stan currently owns a small amount (<$500) worth of BTC, ENG and XTZ (See: Editorial Policy).
