The Bitcoin price has made another push at $7,500, having broken through earlier in the day but fallen back below the key level. News that the United States Securities and Exchange Commission (SEC) has approved the issuance of a Bitcoin backed fund could fuel further price rises. Having started the day just above $7,400, prices were trading between $7,480 and $7,390 most of the day. However, at roughly 18:00 GMT, prices spiked, rising $80 in 6 minutes. A 1% price rise isn’t extraordinary by Bitcoin standards, even in this short a space of time, but it coincided with news that the SEC had approved the launch of the NYDIG Bitcoin Strategy Fund. The fund does not detail a minimum investment and has listed a maximum offering price of … [Read More...]

Having earlier slipped to a weekly low of $7,067, Bitcoin prices briefly rocketed to $7,750, potentially having triggered buy orders at the low price. As prices slipped, some keen analysts pointed to a potential bear trap that would test $7,870. They pointed to diminishing selling volumes and bear exhaustion. Within hours of the prediction, prices rose nearly 10% in less than an hour to reach a daily high of $7,750. All major cryptocurrencies have seen a rise against the dollar in the past 24 hours. Tron, which is never far from cryptocurrency headlines, is the largest coin to buck the trend and post losses on the day. Despite having enjoyed a positive October, Bitcoin saw its prices slump in November, opening the month at $9,140 and closing it … [Read More...]