Bitcoin Price Resurfaces Above $1,200

Bitcoin price has recovered from last week’s late tumble to push beyond the $1,200 milestone, as it makes gains toward the 30-day high of $1,229 on the Bitstamp Price Index (BPI) scaled this time last week.

Bitcoin prices began the week hovering above $1,160 through midday on Monday before a sharp spike at 14:30 UTC helped price jump from $1,161.45 to $1,190.07 in an hour. A brief correction ensued but the bullish trend remained as bitcoin prices began Tuesday at $1,177, climbing steadily to touch $1,200.72 at 05:00.

The positive gains stuck, as bitcoin price reached a high of $1,210 at midday.

At the time of publishing, prices have tailed off slightly with bitcoin trading to the dollar around $1,202, according to BPI data.

The gains come at a time despite fears among traders about the goings-on at Bitfinex, one of the largest USD traded bitcoin exchanges in the world. Yesterday, the exchange revealed that it will no longer be able to

Read more ... source: CryptoCoinsNews

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