Cryptocurrencies stayed more or less range-bound during the past few days. A larger factor contributing to this were the Chinese New Year holidays. Bitcoin is currently quoted at $378.01, not even 50 cents above its price this time last week. Meanwhile Litecoin is trading at $3.08 dollars per coin, practically unchanged for the week.
Bitcoin Volatility Eases Into the Chinese New Year
We’ve seen a noticeable drop in daily volatility during the past few days. Most of the largest bitcoin exchanges are based in China/Hong Kong and they’ve announced that USD deposits will not be processed until next Monday, February 15th. Deposits in Chinese Yuan will continue to be processed, albeit at a slower pace.
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