itBit Discusses China Catalysts to Bitcoin Bulls in Weekly Market

The start of last week saw the price of bitcoin at the $247 mark which rose steadily throughout the week until Friday, reaching a peak of $274 – 10.9% higher than the beginning of the week. Over the weekend the price dropped to $262 on Saturday before climbing to $264 on Sunday to end the week, an overall weekly increase of 6.9%.


itBit’s Director of Trading, Bobby Cho, sees possible “catalysts” for the price increase in China-based conferences, the Blockchain Workshop in Hong Kong and the First Global Blockchain Summit in Shanghai, as well as the announcement of Barclays’ partnerships with Chainalysis and Wave.