Bitcoin moves lower in range bound trade amid lack of catalyst – NASDAQ.com

Bitcoin moves lower in range bound trade amid lack of catalyst
spending-bitcoinsBy Investing.com,  July 24, 2014, 05:35:00 AM EDT AAA

Investing.com – Bitcoin edged lower in range bound trade on Thursday, as speculators awaited the next catalyst to influence price direction.

Bitcoin (BTC-eUSD) dipped 0.57%, or $3.51, on Slovenia-based BitStamp to trade at $617.47 during U.S. morning hours. Prices held in a narrow range between $615.34 and $623.00.

The price of a Bitcoin on Bulgaria-based BTC-e shed 0.24%, or $1.47, to trade at $610.74.

According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency eased down 0.57% to trade at $614.43.

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.

via Bitcoin moves lower in range bound trade amid lack of catalyst – NASDAQ.com.

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