Markets Weekly: Price Crosses $300 Following Coinbase News
The price of bitcoin has rocketed over the past week, gaining 19% over the seven days to break the $250 mark. Just before 08:00 (GMT), the price pushed beyond $300, and it was still hovering around that level at press time. The bitcoin price opened the week at $209.93 and closed seven days later at $254.51, gaining a whopping $40 over that period, according to the CoinDesk Bitcoin Price Index. Buying on the news. Two bullish announcements - both involving the bitcoin services juggernaut Coinbase - coincided with the price spike last week. This doesn't even account for a third notice from....
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Bitcoin services provider Coinbase announced today that it had closed a $75m Series C funding round from a host of notable investors - to date the largest round raised by any company in the industry. The confirmation of what had been rumored to be bitcoin's largest-ever funding round inspired widespread reaction on social media, and also had a positive correlation on the CoinDesk Bitcoin Price Index. The price of bitcoin rose to $212.99 on the news, up from $205.15 at 14:00 UTC, the time of its publication on the Coinbase blog. A similar spike was also observable in CNY markets. Following....
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