Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Bitcoin holds steady near the $470-level in subdued trade

Published 09/15/2014, 07:38 AM
Updated 09/15/2014, 07:38 AM
Bitcoin holds in familiar trading range

Investing.com - Bitcoin prices were little changed in lackluster trade on Monday, as market players awaited the next catalyst to influence price direction.

Bitcoin (BTC/USD) slumped $1.72, or 0.36%, on Slovenia-based BitStamp to trade at $474.05 during U.S. morning hours. Prices held in a narrow range between $470.00 and $481.58.

Bitcoin prices were likely to find support at $456.30, the low from September 8, and resistance at $490.74, the high from September 10.

Elsewhere, the price of a Bitcoin on Bulgaria-based BTC-e shed $3.46, or 0.74%, to trade at $466.50.

According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency slipped 0.23% to trade at $473.62.

Investors were reluctant to open fresh positions after prices failed to close above a key resistance level near the $490-mark last week, indicating bearish chart signals.

Prices of the virtual currency remained supported after eBay (NASDAQ:EBAY) announced on September 8 that Braintree, the company’s payment processor unit, would begin accepting Bitcoin in the “coming months.”

eBay, the world’s biggest online marketplace, is the most significant business to date that’s embraced bitcoin. Dell, DISH Networks (NASDAQ:DISH), Overstock.com (NASDAQ:OSTK) and Expedia (NASDAQ:EXPE) also began accepting the virtual currency earlier in the year.

Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) tacked on €3.96, or 1.09%, to trade at €368.00 on U.S.-based Kraken Exchange.

Bitcoin exchange Coinbase announced on September 10 that it was expanding into 13 European countries, allowing users with European bank accounts to now buy and sell bitcoins in exchange for euros.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Bitcoin is digital cash and is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.