The first week of 2017 has shown Bitcoin prices to be more volatile than usual with trade volumes surpassing $500 Million in days’ trades, as well as the price range moving over $150 on days trades. During the first week of 2017, the price ranged from mid $850s USD to near $1200 USD, with today’s price levelling off around $900 USD.
Traders were startled by the price spike in Bitcoin, and contrary to traditional trading patterns where altcoins experienced a selloff, the inverse occurred, where many altcoins actually held their ground with the price gains, and also increased in price. Many investors are just starting to come down off the trading highs, and believe that another price spike is just around the corner. As everyone knows, price speculation can either go up or down, and as the supply decreases, in theory the price should increase, and compounded with increased interest from new commercial and international investors, Bitcoin dominance remains above the 85% level in the virtual currencies markets.