Bitcoin slips in calm trade, Dell begins accepting Bitcoin payments
By Investing.com, July 21, 2014, 07:20:50 AM EDT AAA
Investing.com – Bitcoin edged lower in rangebound trade on Monday, as speculators awaited the next catalyst to influence price direction.
Bitcoin (BTC-eUSD) fell 0.8%, or $4.99, on Slovenia-based BitStamp to trade at $620.50 during U.S. morning hours. Prices held in a narrow range between $616.16 and $628.00.
The price of a Bitcoin on Bulgaria-based BTC-e shed 0.01%, or 0.04 cents, to trade at $613.10.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency dipped 0.45% to trade at $618.58.
Bitcoin prices have been consolidating in a narrow range ever since after hitting a peak of $658.75 on July 1.
Indications that the digital currency will become more mainstream mounted after PC maker Dell said on July 18 that it will begin accepting payments via Bitcoin for products purchased on its website.
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.