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Over the weekend, the price of bitcoin (BTC/USD) rose higher by 10% up to $254 on BTC-e.
Price fluctuations in bitcoin, historically, are seen to be uncommon. The sudden hike in its price broke a long stretch its trade in recent times. During the last week, bitcoin remained in the low $230s, hardly moving more than 1% up or down.
The dull movement in bitcoin helped it rise back toward its 50-day moving average (MA). The leap is currently seen settled below $230. Bitcoin has not been recorded having traded this far above the MA since last November. BTC is currently trading at $246.
On the other hand, volume of litecoin is beneath average with under $1 million traded over the weekend. As a result, LTC/BTC rate fell to a 6-week low of 0.0072.
