The price of bitcoin broke out this week, spiking to a high of $257 on 17th June in what amounted to a jolt of life for the bitcoin economy.
CoinDesk examines the controversy and culture surrounding Whale Club a group reviled for perceived shadowy market practices and lauded by exchanges.
The bitcoin price continues to trade well above the $250 mark as trading volumes grow on global exchanges including Bitfinex and Huobi.
ALFAquotes has launched a Fair Bitcoin Price indicator to illuminate the value of bitcoin when factoring its cost of production.
The bitcoin price spike over the last four days, which saw it gain 12% to hit a high of nearly $262, has been attributed to positive newsflow.
The bitcoin price jumped $50 in four days of trading, but settled back below the $250 mark after crossing the threshold in earlier trading.
Bitcoin traded sideways over the last week, with the price largely unchanged, as the wider macro-economy awaits a possible Greek Eurozone exit.
Following a price spike on major announcements from Coinbase two weeks ago, the bitcoin price has fallen back below $250.
While the bitcoin price may have taken a beating recently, it appears to be bouncing back, having crossed the $250 and $300 mark in quick succession.
The bitcoin price crashed below $200 last week, leaving market watchers trying to figure out just what had happened.