Bitcoin has been steady over $1000 for a good portion of 2017 thus far. At first it was a bit weak, then round 2 showed a bit more stability until a brief dip caused by a handful of exchanges in China.

Bitcoin quickly recovered and continued to shrug off further Chinese news showing that bitcoin is not so easily influenced by China, something we've been stating for years. Yes,  China is a big market. However, the United Kingdom is a big market. Australia is a big market. Russia is a big market. The United States is a big market. The entire world is a big market and the entire world does not reside in China. 

Same goes for any country. Bad news, misunderstood news, or anything negative is going to influence people. However, where one country isn't, another country is. Bitcoin and it's blockchain are global.

Up,  Up, and Away

Bitcoin hit $1,114.40 on the index during the last 12 hour session and currently sits right at $1,100 ... most exchanges report the same.

BTC-e and OKCoin both report just under $1,100 at $1072 and $1090 respectively and the reason for the index hovering just around the $1,100 mark. Bitquick also is below $1,100 but their volume doesn't influence the index due to omission. LBC, Bitquick, and Coinfloor are not included in the core index, they are included in the retail index however. The current retail index is at $1,197.39 and takes into account LBC, Paxful, Bitquick, and others. 

All in all, we may see a bit of profit taking, but it looks like we may actually be closer to a post-1000 market now. Each day bitcoin remains over 1000 further solidifies that, but be cautiously optimistic, if anything bitcoin has shown us in the past is that it know how to be volatile. 

Get on it!

Article by dinbits
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Banner Image by staff

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