Bitcoin Price Jumps Out of Its Comfort Level

NEW YORK (InsideBitcoins) – After six weeks of cruising /- in the mid $230 range, the price of bitcoin took a 6% leap early this morning to $250. However, the digital currency is well within its recent tolerance: the one-month trend has seen $250 twice and still ended up with a -3% loss for the period. But bitcoin has regained some of what it had previously given up year-to-date, now posting a -21% loss for 2015 so far.
Bitcoin has yet to close above a mid-$250 resistance level that chartists believe will signal a bullish trend. The cryptocurrency spent only three days of the new year above $300, sagging from a close of $315 on January 2nd to remain sub $300 ever since.

This post was published at Inside Bitcoins on Feb 27, 2015.