Bitcoin's 30-day average hits new high despite uncertainty
Bitcoin's 30-day moving average has reached an all-time high, according to industry data. This comes as China levelled new restrictions on the cryptocurrency, including the imposition of trading fees and a pause on withdrawals. Despite volatility in the price of bitcoin following these announcements, the currency steadied quickly, leading investors to believe it is becoming more resilient. Bitcoin will have the clear further hurdles next month when Chinese exchanges are expected to implement regulatory standards. The US is also set to decide whether it will allow the creation of the first bitcoin exchange-traded fund on 11 March.
Bitcoin’s 30-day moving average price has reached the highest point in its history, the latest data from the industry shows.

Statistics gathered from the exchange Bitstamp and republished across social media highlight the highest monthly average price ever achieved, beating 2013 in terms of length and relative lack of volatility.

Bitcoin price has faced a tough environment since its push over the $1000 barrier over the new year period.

Regulatory uncertainty in China, which saw exchanges impose trading fees and even halting withdrawals altogether, generated wild swings in Chinese trading behavior.

However, while Bitcoin price was initially volatile after each such event, it steadied ever more quickly, reassuring users and investors that the ecosystem was naturally becoming more resilient.

The price news has been accompanied by record trading figures on the LocalBitcoins peer-to-peer marketplace - not just in China, but nine countries worldwide.

The focus is now on March when Chinese exchanges are set to implement regulatory standards in order to continue trading as usual. A US decision on whether to allow the first Bitcoin exchange-traded fund (ETF) is also expected March 11.