2016-12-22: Bitcoin is surging
The price of digital currency bitcoin continues to surge on Thursday, up over 5% against the dollar by mid-morning in London. The digital currency broke through $800 a bitcoin on Wednesday and ended the day at $826.29.
2016-12-27: Bitcoin is soaring
Bitcoin is soaring as traders return to work after the extended Christmas break. The cryptocurrency is trading up 3% to more than $929 and is at its best level in three years.
2016-12-28: Bitcoin is still storming higher
Bitcoin's incredible rally continues on Wednesday, up close to 3% against the dollar in early trade in London. The digital currency is up 2.8% to $958.52. Bitcoin has shot up over $150 over the last week, with little obvious spur for the price rise. Bitcoin is now at its highest level since November 2013 when it reached $1000.
2016-12-30: China is behind the latest bitcoin craze
Bitcoin had a great 2016. The cryptocurrency rallied 120% to $952, threatening to break the $1,000 mark for the first time since 2013. While bitcoin has seen a consistent bid throughout the year, its 57% gain (in US dollar terms) over the past three months has been particularly impressive. • So what's behind the move? • China.
China is as good a guess as any, but it's still just a guess. The last time I did a post in price action was Bitcoin in the News : 2016-06 Price (July 2016). Like so many Yahoo services, the charting service I used for that post has declined in quality. Here's what I get now for the month of December.
BTCUSD=X Interactive Stock Chart - Yahoo Finance
Prices before 12 December (which gives BTC = 778 USD) are marked 'N/A'. The peak for the month shows about 975 USD. Since the end of December, the price has come down considerably, but I'll look at that in the news for January 2017.
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