Bitcoin Price Seemingly Stabilizes but Volatility Still Looms Overhead

Now that the Bitcoin price is on the rise once again, it is interesting to see which markets are driving demand. Interestingly enough, the ETH/BTC market remains the largest for now. It does appear fiat markets are finally making some headway too. Korea remains very bullish on Bitcoin, with prices reaching US$2, 800. The future looks good for Bitcoin, yet nothing is guaranteed.

Bitcoin Price Is On The Mend

It is reassuring to see the Bitcoin price halted its downtrend. Things were looking quite dire on Friday and Saturday. This Sunday, however, things are looking up again. The price per Bitcoin has surpassed US$2,200 once again. There is some resistance on the charts, though, and this rise may be negated in the end. Then again, the bullish trend can’t continue without any setbacks.

Looking at the trading markets, an interesting scenario is forming. Ethereum is the main trading asset against Bitcoin right now. The Poloniex exchange generated nearly US$100m in volume over the past 24 hours with this pair. That is quite impressive, but also surprising. After all, one would expect fiat currencies to dominate Bitcoin trading.

Read more ... source: LiveBitcoinNews

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