Bitcoin Trading Stabilizes After Significant Price Increase And Volume Spike

Trade in Bitcoin has steadied following a major price gain and volume spike. Bitcoin prices have been in an ongoing cycle of flux for the previous two months, with highs and lows commensurate with the overall volatility of the marketplace for digital currencies.

The digital coin has witnessed continuously high levels of trade activity, with a value of $10 million of BTC moving hands in the previous 24 hours, according to CoinMarketCap. On June 17th, Bitcoin set an all-time high of $5,924 on Coinbase exchange before sliding to approximately $5,000 over the course of a number of days.

Bitcoin's price plunged further to roughly $4,500 in mid-June after a series of high-profile news articles that claimed China was ready to clamp down on digital currency exchanges and mining activities inside its borders. The claims coincided with a proposed bitcoin block capacity increase proposal from core bitcoin developer Jeff Garzik that attempted to alleviate scalability difficulties connected with bitcoin's network by raising the size limit for blocks on the ledger's blockchain.