Bitcoin Price Stabilizes around $210 amid Slowdown in Crypto Trading Volume

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 (BTC/USD) has gone from extremely volatile to surprisingly stable during the past 24 hours, its total range less than 1.5% in either direction.

It is currently trading at $209.30 on BTC-e. Save for a brief swing around the time of yesterday's Coinbase announcement, BTC has exhibited its flattest behavior thus far in a wild 2015.

Volumes across the crypto markets have been well below normal during the past 24 hours. On BTC-e, traded volume is in the neighborhood of 100-200 BTC/hour. Only $750,000 worth of litecoin has been traded, well below the typical range of $2-3 million.

Such flat activity, which may take more than a few days to wear off, is often the prelude to the next major unexpected move. BTC prices are giving a false impression of residing on solid ground; There are forces potentially pushing it a great distance in either direction.

The best trading strategy right now is simply to wait on the sidelines. If bitcoin options were widely available, the straddle would potentially be a good choice (if the coming move is anticipated to be newsworthy).

Prices on BTC-e are about $3.50 (1.7%) below those on its peers, in line with its average offset.