Bitcoin Price Shows Resiliency, Hits $1,050

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Bitcoin price is persevering and strengthening again as the effects of the PBoC-led crackdown on Chinese bitcoin exchanges continues to diminish.

Bitcoin reached a high of $1,052 on Friday at 13:45 UTC in a continuing week of gains following last week’s steep fall when two of China’s biggest bitcoin exchanges froze withdrawals for a 30-day period. The value of the cryptocurrency is cementing itself above the $1,000 level even as trading volumes in the traditionally major trading market in China, falters.

At the time of publishing, bitcoin is trading to the dollar at $1,051.61, sticking to its momentum.

Less than 50 days into 2017, Bitcoin has already had a dramatic year. The cryptocurrency rang in the new year by breaching the $1,000 milestone and soon reached gold parity. Price reached an all-time high in China and the total value of all bitcoins in the market crossed $17.5 billion.

On January 4th, bitcoin price scaled beyond $1,100

Read more ... source: CryptoCoinsNews

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