Investing.com - Bitcoin prices inched higher in rangebound trade on Monday, as speculators awaited the next catalyst to influence price direction.
Bitcoin (BTC-eUSD) held in a tight range between $429.60 and $448.02 on Slovenia-based BitStamp. Prices last traded at $440.14 during U.S. morning hours, up 1.3%, or $5.63.
The price of a Bitcoin on Bulgaria-based BTC-e rose 0.95%, or $4.10, to trade at $434.10.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency tacked on 0.09% to trade at $436.95.
Bitcoin prices have been under pressure in recent weeks amid indications China will take additional steps to crack down on transactions made using the virtual currency.
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.