Reaching nearly $473 today, bitcoin returned to a lower, yet still elevated, market value today when compared to just 60 days ago. At the time of this writing the market value in the dinbits index was holding around 422. Bitcoin has been holding over $400 for a while now, and over $300 for many weeks after a dismal 2015 where it struggled to reach anywhere near $300 for the majority of the year.
|Get the index widget: http://news.dinbits.com/p/dinbits-index-widgets.html|
There's no crystal clear explanation for the minor spike, rising around $50 over the course of a few hours, but per the norm there's plenty of theories ranging from the reasonable to the ridiculous.
One thing clear, many decided to take some profit and who can blame them, it's been a bit of a wait on these recent higher values.