Markets Weekly: Bitcoin Price Drops as Coinbase Euphoria Wanes

Feb 2 - coindesk-bpi-chart (1)The bitcoin price has actually fallen 11 % over the last seven days, opening at $ 254.51 on 26th January and closing at $ 226.40 on 1st February, according to the CoinDesk Bitcoin Price Index.

The price increased at the start of the week, nevertheless, when it hit a high of $ 307.97 on the back of significant announcements from Coinbase, that included its record-setting $ 75m funding round and the launch of its US-based exchange. The price jumped by more than $ 50 in intra-day trading.

Price gains were quickly lost once more as succeeding trading sessions took their toll. The biggest dip happened on Wednesday, as the price fell by about $ 30. By Saturday, a bitcoin was trading at $ 216.

Continue reading at CoinDesk


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