Bitcoin Price Passes $420 Mark Amid Institutional Attention

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.

feb 12 - feb 19

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

Read more ... source: TheBitcoinNews