Markets Weekly is a weekly column analyzing price movements in the global digital currency markets, and the technology’s use case as an asset class.
Bitcoin prices rose over the last week, pushing higher as the sentiment surrounding the digital currency strengthened.
Bitcoin was trading at $421.69 at 12:00am (UTC) on 19th February, compared to $377.82 on 12th February at 12:00am (UTC), according to the CoinDesk USD Bitcoin Price Index (BPI).
This increase represents a gain of more than 10%.
This week provided a contrast to the prior seven-day period between 4th February and 11th February, when the digital currency hovered in a range between roughly $390 and $370, additional BPI figures reveal.
The price of bitcoin increased on 12th February, rising from $377.82 at 12:00 am (UTC) to $383.10 at 23:00 (UTC), before continuing this upward climb the following day, reaching $392.34 at 23:00 (UTC). The digital currency suffered a loss on 14th February, but then continued to appreciate for the remainder of the week.
Market participants traded a total of 15.2 million bitcoins from 12th February to 19th February at 10:40 am (EST), according to data from Bitcoinity. China-based