Bitcoin down slightly in directionless trade
By Investing.com, July 22, 2014, 06:08:01 AM EDT AAA
Bitcoin (BTC-eUSD) dipped 0.05%, or 30 cents, on Slovenia-based BitStamp to trade at $621.70 during U.S. morning hours. Prices held in a narrow range between $615.00 and $624.79.
The price of a Bitcoin on Bulgaria-based BTC-e shed 0.13%, or 82 cents, to trade at $612.78.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency eased down 0.09% to trade at $619.47.
Bitcoin prices have been consolidating in a narrow range ever since after hitting a peak of $658.75 on July 1.
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.