Investing.com - Bitcoin prices swung between small gains and losses in rangebound trade on Tuesday, as demand for the virtual currency remained underpinned amid speculation an increasing number of online retailers around the globe will start accepting Bitcoin payments in the coming months.
BTC/USD fell 0.4% during U.S. morning hours to trade at USD964.00 on the Tokyo-based Mt. Gox Bitcoin exchange. The currency traded in a range between USD940.01 and USD974.64.
The U.K.’s branch of e-commerce giant eBay said Monday that it will start allowing users to sell and trade digital currencies on its site starting February 10.
eBay U.K. will allow merchants to trade Bitcoin and similar currencies in a special 'Virtual Currency' category, but only in classified ad format for the time being.
Prices of the virtual currency have been moving in a relatively narrow range recently as speculators feared China will take additional steps to crack down on transactions made using the virtual currency.
Chinese e-commerce giant Alibaba banned bitcoin from its shopping websites last week, a crippling blow that could make it much harder to use the virtual currency in China.
Bitcoin is digital cash for the internet and it is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.
Prices of the virtual currency soared to an all-time high of USD1,241.10 on November 29. It was trading at USD100 in early October.
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Bitcoin prices fluctuate in rangebound trade
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