Bitcoin prices passed $900 today, though this feat was
diminished by several rallies that ultimately failed to push its value above
this benchmark.
Overall, the digital currency rose to as much as $904.76,
after falling below $880 earlier in the session, climbing above this level amid
modest volatility.
Later in the session, the price mounted another comeback,
hitting a high just above $905, according to the CoinDesk USD Bitcoin Price
Index (BPI). At press time, however, the price had dipped again to a value of
$894.95.
This upward movement represented the latest session of
relatively mild price volatility, at least compared to the sharp price
fluctuations experienced earlier this month.
Most notable, however, about the day's trading, may have
been the lack of any serious decline over the day's trading.
Bitcoin prices enjoyed their latest climb in spite of new
Chinese regulatory developments that found the nation’s exchanges responding
publicly to pressures from the People's Bank of China, the country's central
bank.
Bullish sentiment
Still, market sentiment has been bullish, according to
figures provided by a handful of exchanges, even with the confirmation that
major Chinese exchanges Huobi and OKCoin had stopped offering margin trading. The market was 91% long on 19th January, Whaleclub figures
reveal.