Bitcoin’s Price Consolidates After Last Week’s Chinese Exchange Shakeout
The price of bitcoin has been swinging back and forth in value since our last market update report. Overall, bitcoin proponents seem optimistic about the price as China’s regulatory crackdown is slowly turning into a distant memory. After dipping below the $3K zone, the price managed to climb back to the $3,800-4,000 range throughout most of the week. On Friday, September 22, bitcoin’s price stability in that territory headed south – leading to a 5 percent loss in value and a few sub-$3,600 lows. After some consolidation over the past 12-hours, buyers have stepped back into the trading arena and pushed the price up to $3,798 during the early morning hours.