Bitcoin Price Breaks Sleepy Spell to Jump Above $950

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Bitcoin prices are up more than 3% since the start of the day’s trading, climbing above $950 for the first time in weeks.

The average price hit a high of $959.37 from an open of $920.24, according to the CoinDesk Bitcoin Price Index (BPI). BPI data shows that the price of bitcoin hasn’t exceed $950 since 6th January.

The rise above $950 came after several days of relatively stable trading, in which the price of bitcoin ranged between roughly $910 and $922, according to trading data.

At press time, the average price of bitcoin is $956.32.

CNY-denominated markets have climbed nearly 11%, hitting a press time high of ¥6,629.34. The current price of ¥6,608.70 represents a rise of roughly 10.7% above today’s UTC open of ¥5,961.77.

The move comes amid a shift in the global exchange landscape, which has seen its lines redrawn after major bourses in China moved to add trading fees.

As a result, volume has shifted – at least for now – toward no-fee markets. Observers, however, argue that this trend will be short-lived as those exchanges look to add fees of their own.

Image via Shutterstock

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