Bitcoin prices fell below $900 during late-night trading, continuing that trend as the day progresses.The digital currency’s price tumbled yesterday after major exchanges BTCC, Huobi and OKCoin began imposing trading fees following guidance from China's central bank.That move triggered a broad decline in volume at these exchanges.This development, combined with the previous announcement that those exchanges would halt margin trading, seems to have placed some downward pressure on prices.Bitcoin fell to as little as $885.72 on 24th January, roughly 2.5% below their daily high of $908.39, according to the CoinDesk Bitcoin Price Index (BPI).At the start of 25th January, prices averaged $885.65, additional BPI figures reveal.Bitcoin prices rose to as much as $902.73 at 02:45 UTC, before quickly dropping below $900 once again.At press time, the price of bitcoin is at an average of $895.46, an increase of just over 1% from the day's open.CNY-denominated markets are up more than 5% today.

After opening the day at ¥5,868.13, CNY-denominated markets climbed to as high as ¥6,307.26.Prices are currently averaging ¥6,237.62, BPI data shows.Bitcoin prices have experienced a period of relative stability, according to the BPI, fluctuating between roughly $880 and $940 since 19th January.This market state sharply contrasts with earlier this month, when bitcoin prices experienced sharp gyrations, rising to a three-year high and falling close to $200 within a single hour.The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.Once again, overnight, we have seen some pretty volatile action in the bitcoin price.For the last couple of weeks, this volatility has become something of the norm, and on a number of occasions, we’ve had to narrow our time frames into the one-minute chart in order to define some levels that are narrow enough for us to take advantage of our breakout strategy during the European session.

This morning is one of those occasions.As you will see from the chart below, we’re using the one-minute chart, and even that is not giving us too narrow a range to play with.It means we can bring our intrarange strategy into play, so that’s one advantage, but it doesn’t make for particularly easy viewing on the screen.Anyway, let’s get to the detail.Take a look at the chart below to get an idea of what is on this morning.It is – as mentioned – a one-minute chart, showing the last three hours or so worth of action in the bitcoin price and it has our range overlaid in green.As the chart shows, the range in focus is defined by support to the downside at 850 and resistance to the upside at 864.As mentioned, intrarange is on, so long on a bounce from support and short on a correction from resistance.A stop loss just the other side of the entry on both positions will ensure that – in the event than price reverses to trade against us – we are taken out of the trade for nothing more than a small, manageable loss.

If price breaks through resistance, we will enter long towards 873.Conversely, a close below support will put us short towards 840.Again we need a stop loss on both trades, and two or three dollars just the other side of the entry works well.Charts courtesy of SimpleFX Disclaimer:ethereum node up to dateAfter several days of rangebound trading, bitcoin's price took a tumble today.ethereum rigThe digital currency's price fell to as little as $1,132.45 by 21:00 UTC, CoinDesk Bitcoin Price Index (BPI) data shows.giocare bitcoinThis daily low represented a more than 10% decline from bitcoin's opening price of $1,259.60.ctizacion bitcoinThis sharp drop – which represents the largest intraday loss since the SEC shot down the proposed Winklevoss bitcoin ETF on 10th March – contrasts sharply with bitcoin's behavior over the last several sessions, when it fluctuated between $1,225 and $1,260.bitcoin for ukash

After moving within that reasonably tight range since the start of trading on Monday, bitcoin's price experienced a notable increase in volatility during today's session, falling through the crucial $1,200 level at 19:00 UTC and then dropping through $1,150 at 21:00 UTC.Following this significant, downward movement, the digital currency recovered somewhat, reaching $1,171.47 at the time of report.ethereum bank contractThe day's sharp declines took place amid high trading volume.Market participants traded roughly 48,000, 30,000 and 18,000 through exchanges Bitfinex, Kraken and Coinbase in the 24 hours through 22:00 UTC, compared to daily averages of approximately 33,700, 19,000 and 12,000 over the last seven days, Bitcoinity figures reveal.Both today's sharp drop – and the rangebound trading that was present in recent sessions – have occurred as bitcoin continued to face ongoing technical challenges.The scaling debate, in particular, has been drawing significant attention, as industry insiders have been unable to develop a consensus after two years of ongoing debate.

As a result, the perceived need for a hard fork (or the creation of two separate bitcoin blockchains and tokens) has grown.While such an event could create far larger blocks with significantly greater capacity, market experts have warned it could also reduce prices notably.BitcoinWhy Bitcoin Just Dropped 30%David Z. MorrisSince hitting a record high of over $2700 on Thursday, the digital currency Bitcoin has gone into a sharp correction, losing nearly 30% of its value in just two days, according to numbers from CoinMarketCap.A broad range of cryptocurrencies, including Ethereum, Ripple, Litecoin, Dash, and Monero also declined, in most cases dropping even more steeply.Some analysts have described this as profit-taking, which would suggest the declines will level off.But technical analysts speaking to CNBC say the losses could go as deep as 46.5%, pushing Bitcoin down to $1,470.Get Data Sheet, Fortune’s technology newsletter.A look at history suggests even that might not be the floor.

The cryptocurrency rally of the last six months is strongly reminiscent of a Bitcoin bump that unfolded from October to December of 2013, when the price skyrocketed from under $130 to over $1100.That was followed not just by a correction, but by a long, slow decline that had prices pared back to just over $200 within a year, followed by two years of steady, but slow, growth.It’s unlikely that the same precise pattern will repeat itself, mostly because the ecosystem of startups and services surrounding cryptocurrency is vastly more robust now than it was four years ago.But a vital lesson still holds: cryptocurrency prices are volatile because very few speculators actually understand the technology or its potential, leaving it vulnerable to reactive, emotion-driven swings.For proof, just look at how closely various cryptocurrency tokens' prices are tracking each other, regardless of their often very different realities on the ground.Bitcoin is the first and most basic form of cryptocurrency, with a lot of adoption and stability, but relatively few features.