Bitcoin Price Climbs to 2-Week High

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's traded price has climbed as high as $258 on BTC-e, a 2-week high. It is currently trading at $254.

Since hitting a multi-week low of $234 last week, bitcoin's gains have been small and steady, typically 1-3% per 24h period. Since dropping by roughly 20% two weeks ago, price movements have been generally much slower and volumes have become more consistent between 300 and 500 BTC/hour.

The recent climb has in fact quietly brought bitcoin just barely back above its 50-day moving average (MA). It has crossed the mark in both directions on numerous occasions during the past two months, and more recently, has done so with increasing frequency. A long-term view has thus shown a gradual convergence toward the MA, in line with the far lower Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term levels than those experienced in early January.

There has also been little by way of price-moving news and developments, the biggest story being the charging of former federal agents with bitcoin-related fraud in relation to the Silk Road investigation. The market has understandably felt that the charges should not positively or negatively impact the price of bitcoin.

The offset between BTC-e and its peers is roughly $4.30 (1.7%), in line with the historical average.