Bitcoin exchange and wallet Coinbase is experiencing constant growth. After they received $75 million in Investments little less than a week ago, they launched their service and they’ve now opened the first U.S. Based Bitcoin Exchange available in 25 states. The price climbed above $300 and stayed there for several hours today after the news came out, but has since fallen.
The path that lead us below $300
Since 2014, the times that bitcoin has been under $300 are actually not many. After the massive price rise during 2013 we only saw the price hovering below $300 once somewhere between September and November 2014. And while it still rose to ~$350 levels and even traded there for a while, It would be safe to say that it has been declining for the most of January.
Can the resistance be broken once again?
After the price dipped below $300 last year, lots of traders urged to buy bitcoins and the price was back up quickly. Seeing that the price was on the rise for the first time this year, a correction caused the the price to go below 300 again. Still the price is higher than what it was at the beginning of the day. One could even say that the market is once again bullish rather than bearish.
Members of the bitcoin community will often joke about good news. Saying that every time we hear the least bit of good news the price goes down again. But we’ll have to assume that things are not like that in today’s case. As Coinbase launched a regulated exchange, it’s reasonable to say that a lot of confidence is going to infuse traders. Most likely the rest of the world too, as the United States could be considered the world’s center when it comes to the bitcoin economy. We have several signs indicating that another rise is feasible in the near future.
Images via Coinbase.
