Yahoo Finance Bitcoin Prices Rise 3% But Hold in Familiar Range as Traders Await China Clarity
Investing.com - Bitcoin prices pushed higher on Monday, but held in a familiar trading range as traders awaited further clarity on what China's regulatory environment will look like going forward.
Bitcoin was last up about $120, or around 3%, at $3,773.50 by 10:10AM ET (1410GMT). Prices have been stuck in a range between $3,500-and-$4,000 over the past week.
The digital currency is on track to end September with a loss of roughly 20%, its worst monthly performance since Jan. 2016.
Bitcoin prices plunged by approximately $1,000 to below $3,000 per coin earlier this month, with the sell-off driven in large part by fears of China cracking down on the market as well as a warning from JPMorgan (NYSE:JPM) CEO Jamie Dimon that bitcoin was a "fraud".
Despite the recent fall, the digital currency is still enjoying a remarkable year, with prices up almost 350% since the start of the year, beating just about every other asset class.
Ethereum, Bitcoin's closest rival in terms of market cap, gained 2.2% to $288.29.
Other prominent cryptocurrencies such as Bitcoin Cash, Ripple and Litecoin also traded higher.
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