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Bitcoin Price Analysis: Sustained gains and support building

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Bitcoin Price Analysis: Sustained gains and support building

Bitcoin opened at $271.20 this morning after gaining nearly $10 in value yesterday, marking its highest opening in two months.

The coin’s value increased after Chinese exchanges Huboi and OKcoin experienced periods of high traffic. Experts attribute the growth of these exchanges to the weakening of the Chinese Yuan.

Though it has dropped significantly from its nearly $424 yearly high, the coin has shown steady gains from its $209.13 value posted Aug. 24, and has increased by an average of 1.32% each day this week. 

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