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 traded largely between $410 and $420 during the week between 11th March and 18th March, as 30m BTC was traded on exchanges globally.
The digital currency’s price movements were largely subdued, starting the week out at $416.24 on 11th March at 12:00 UTC before surpassing the $420 level at 09:10 UTC. For the remainder of the week through 12:00 UTC on 18th March, the digital currency remained range-bound between $410 and $420.
Since then, bitcoin’s price has weakened, falling at around 14:00 UTC to a press time low of $403.63 at 19:45 UTC, a decline of $11.43 over the course of the day’s trading.
However, the modest price movements may have been overshadowed by the sudden attention given to ether, the token that powers the Ethereum blockchain.
Ether, which has been generating significant visibility as a digital asset, experienced sharp fluctuations during the week. The development is notable as ether serves as a way to run applications on the Ethereum blockchain and is not positioning itself as a store of value.