Bitcoinist Weekly News Re-Hash: Bitcoin Price Rockets, FinTech Industry Stirs


This past week, the Bitcoin markets saw very little action, with last week’s sideways trend persisting. That is, however, until Sunday, when the Bitcoin price shot up $10 into the $240s range. With the Bitcoin XT drama finally settling down, and no changes in major fundamentals, it currently looks as if this latest spike is mostly speculative. Will this speculative surge liquidate itself, or will it establish a new fundamental support level?

Also read: Bitcoinist Weekly News Re-Hash: Bitcoin XT Dies, Bitcoin Price Stabilizes

Daily Bitcoin Price Action

  • August 31: $227.48
  • September 1: $229.09
  • September 2: $227.34
  • September 3: $228.79
  • September 4: $227.26
  • September 5: $230.25
  • September 6 Open: $241.18
  • September 6 Close: $240.95

Total change: +5.92%

computer-767784_640computer-767784_640The week kicked off with the last day of August, the Bitcoin price opening at $227.27. During the first half of the day, the markets looked like they might achieve some modest gains, with the price breaking into the low $230s around midday. By the afternoon, though, the price had flattened out in the low $230s range; going into the evening, the price

Read more ... source: Bitcoinist