Markets Weekly: Could Central Banks Spark a Bitcoin Rally?

Following mid-November’s price spike, the bitcoin markets have resumed regular service. The price has dropped slightly, while trading volumes have reverted to more commonly observed levels.
The price started last week at $385, according to the CoinDesk BPI, and closed the week at $366 – a fall of 5%.
Trading volumes fell precipitously by 39% last week compared to a week earlier. The number of coins that changed hands across all exchanges tracked by Bitcoinity stood at 3.68 million – down from 5.99 million over the previous seven days.
Last week’s giddy heights
The declining price and decreased trading activity last week is in stark contrast to the previous week’s bidding frenzy. The price then achieved a high of $458 on 13th November.

This post was published at Coin Desk on November 24, 2014.