Investing.com - Bitcoin prices consolidated near the $350-level on Monday, as speculators awaited next catalyst to influence price direction.
Bitcoin (BTC/USD) inched up $1.82, or 0.51%, to trade at $356.00 on Slovenia-based BitStamp during U.S. morning hours.
The price of a bitcoin on Bulgaria-based BTC-e added $1.08, or 0.31%, to trade at $352.01, while prices on Singapore-based itBit advanced $2.63, or 0.75%, to trade at $353.76.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency tacked on 0.42% to trade at $353.02.
Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) dropped €0.83, or 0.29%, to trade at €280.88 on U.S.-based Kraken Exchange.
Elsewhere, yuan-denominated Bitcoin prices on Shanghai-based BTC China edged up 8.49 yuan, or 0.4%, to trade at 2,156.08 yuan, while prices on Beijing-based OKCoin increased 6.16 yuan, or 0.29%, to trade at 2,156.30 yuan.
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.
Prices of the virtual currency are down nearly 48% from its June highs of $683, and roughly 70% below its all-time high near the $1,240-level hit in late November 2013.
Bitcoin’s market cap is down to just $4 billion, after peaking at $13.9 billion in December 2013, even as the virtual currency has been getting more popular with merchants and retailers in recent months, including PayPal, Expedia, Overstock.com and Dell.