Bitcoin Price Rallies 20% to 3-Week High, Breaks 50-Day MA, Litecoin Back above $2

A big move was in the works following some of the flattest trading activity since 2014, the question being in which direction. After a lackluster few days, prospects did not look promising heading into the weekend.

But Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's price (BTC/USD) has bucked its recent downtrend, soaring by over 20% this weekend to $265 on BTC-e. It is bitcoin's highest price in nearly three weeks, since immediately after the launch of Coinbase' exchange.

The gains have accumulated steadily over the past 48 hours, in contrast with other recent rallies better characterized by large, sudden spikes.

Volumes have peaked as high as 2,500 BTC/hour.

The bullish signal from this weekend's rally is bitcoin's rising above its 50-day moving average (MA) for the first time since during the Coinbase-inspired hype three weeks ago. Helping it cross over was the MA's continued downward trajectory, which has brought it to near $240, its lowest since November 2013.

The crossing three weeks ago lasted less than 24 hours as the Coinbase hype quickly subsided. This weekend's stronger behavior, combined with the fact that BTC has held its ground above $200 since early January's Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term, may be a signal that prices have bottomed in the mid-term. However, a more consistent behavior than during the Coinbase hype is necessary to give this theory credibility.

Litecoin has broken back above $2.00, also for the first time since last month's rally. It has, however, appreciated at a slower pace than BTC, as reflected by the LTC/BTC rate falling well below 0.008.

Prices on BTC-e are $2.50 (0.95%) below those on its peers, a smaller than average offset.