The price of bitcoin surged today, rising more than 9% and exceeding $900 for the first time in nearly a week.
Average prices across exchanges breached this level at 17:45 UTC, rallying to as much as $906.38 by 20:00 UTC, the highest total observed since 11th January on CoinDesk's USD Bitcoin Price Index (BPI) reveals.
Overall, bitcoin prices climbed into the low $900s after gaining more than $50 earlier in the session, rising to $896.75 by 08:15 UTC after opening at roughly $830.
By climbing more than 9% during the session, bitcoin prices broke out of the relative calm they had enjoyed for several sessions, when the digital currency’s price repeatedly fluctuated between $800 and $840.
New optimism
Yet, under the surface, there have been changes in sentiment.
Following the decisions by China's central bank, the People's Bank of China (PBoC), to meet with major exchanges last week, nobody knows for sure whether China’s central bank will take further action.
Such uncertainty, it seems, has given way to positivity.
"It seems the PBOC is not going to do anything further damaging than limiting leverage," Kong Gao, marketing manager at China-based trading firm Richfund, told CoinDesk.
Other China-based traders, when surveyed, acknowledged that there is a perception the central bank will take no further action.
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