Bitcoin Price Maintains Microsoft Momentum for Most of the Day; Retreats Late

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NEW YORK (InsideBitcoins) — The bump in the price of bitcoin from Microsoft’s early announcement today waned late in the afternoon as the price retreated from it’s steady gains held for most of Thursday. As of 4:15 p.m. in New York, the Inside Bitcoins Price Tracker reported bitcoin trading near $347. Highs for the day near $360 were noted in the pre-dawn hours following the market-moving news.

After early morning sales brought the price down to the $350-range, bitcoin settled into the low $350s for most of the day. A spike in volume around 3:30 p.m. Eastern saw sales trigger an afternoon slump, sending the price into the mid-$340s.

Year-to-date, the price of bitcoin is down about 55%.

Bitcoin price chart: BigTerminal.com

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