After a wild start to 2017, bitcoin took it slow this week.
This relative calm was punctuated by a handful of sharp fluctuations, which saw the digital currency’s price fall to as little as $810 on 15th January and rise to as much as $914 on 18th January, data reveals.
But, despite the calm, there was uncertainty under the surface.
According to analysts, the market is still reluctant to make big moves in the wake of continued news from China that has found its central bank more actively engaging with local exchanges.
Trader reluctance
For now, this is keeping traders on the sidelines.
Ryan Rabaglia, head trader and digital asset specialist at Octagon Strategy, described the situation as one where 'wait and see' is still the attitude.
"Although the last round of news out of the mainland has seemingly been fully digested, we're still seeing most traders sitting on the sidelines," he told CoinDesk.
