Volatility pauses in Bitcoin as new moves eyed

Dubai

Volatility ebbed in Bitcoin as traders eyed new moves, after the cryptocurrency witnessed huge gyrations last week, when it hit a record high.

Bitcoin rose 1.74 per cent to $2,246.03, according to coindesk data. The cyrptocurrency hit a peak of $2,779, on Thurday, but dropped to a weekly low of $1,974 on Saturday.

The cryptocurrency has seen volatile price swings since December, driven mainly by investors looking for alternative safe havens and wider acceptance in commercial markets.