Bitcoin price breaks through $448, hitting a two-month high

On April 21, according to the CoinDesk USD Bitcoin Price Index (BPI), the price of Bitcoin broke through $448, hitting a two-month high, reaching $448.5 at press time.

The figure is the highest reached by the CoinDesk BPI since Feb. 21, when the bitcoin price was $448.29.

The clear upward trend helped Bitcoin break a price pattern that had persisted for several weeks, during which the price of Bitcoin fluctuated very delicately.

At 12:00 on the 21st of this month, the price of Bitcoin closed between US$410 and US$430, which is known as the longest period of stability.

However, there is a reason why the price of Bitcoin remains in this range, and market observers are constantly watching to see whether the Bitcoin community is making progress on fundamental issues surrounding Bitcoin technology.

While some have been frustrated by the apparent lack of progress in the bitcoin community on a technical fix that would allow for capacity regulation, developers took a small step toward that goal by releasing code for Segregated Witness (SegWit) on April 20.

This update to the Bitcoin protocol would allow blocks to hold more data by removing the part that holds digital signatures of transactions. However, the community has not yet implemented the update.

Charles L. Bovaird is a financial writer and consultant with a strong knowledge of securities markets and investment concepts.

Original article: http://www.coindesk.com/bitcoin-price-448-two-month-high/
By Charles Bovaird
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/bitcoin-price-hit-two-month-high)