Bitcoin Price Scales Beyond $390 in February

Bitcoin Price Scales Beyond $390 in February

It’s early days in February, following a volatile January for the price of Bitcoin. In recent days, the cryptocurrency has swelled again, with a high pushing beyond $390, gaining over $20 in the space of a day.

The Bistamp Price Index started yesterday, February 4th at $368.55 to rise through the day, leading to a monthly high of $391.880 at 9:00 PM UCT, the same day. At the time of publishing today, the Bitstamp Price Index sees Bitcoin trading at $389.00.

BPI-02-05-16 389.00

The first signs of a climb showed when Bitcoin price scaled up toward $373.91 at 2:00 PM before a quick spike saw the price shoot up to $383.80 in a matter of ten minutes. The momentum wasn’t lost as Bitcoin traded at a high of $391.18 at 9 PM the same day.

A speculated factor for the surge in the cryptocurrency’s valuation is the weakness of the dollar after industry suggestions that the Fed may not hike rates as expected in March.

Read more ... source: TheBitcoinNews


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