The price of Bitcoin made headlines again over the weekend, as volatility in the currency continues…
Headlines continue to follow the fall in recent weeks of the price of Bitcoin, in large part thanks to it still being the most known and highest profile cryptocurrency.
On Friday, the price of a Coin dropped to below $8,000, before rallying to back over $9,400 over the weekend, Since then, the price has dropped again, with the official Bitcoin.com site pricing a Coin at $7899 on Monday morning. That number was still chopping and changing a lot at the time of writing.
Unsurprisingly, price variants of over 10% in the value of the currency, all in under 24 hours, continue to raise eyebrows regarding Bitcoin, and the broader cryptocurrency market. After all, if the pound or dollar underwent such fluctuations, the headlines would be as frequent, and likely in an even bigger font. In this case, though, headline writers seem to be expecting a bust that levels out the extraordinary increase in value we saw in the last quarter of 2017. Few believe that’s likely to happen, but conversely, the price isn’t settling just yet.
Rather than one reason, there’s a mixture of elements here for Bitcoin nabbing the lion’s share of those headlines. That Bitcoin’s profile is rising more and more for one, and the fact that in turn, it’s interesting legislative bodies around the world too. Add into the mix the high-profile heist on the Coincheck currency exchange a week or two back – a heist that, ironically, didn’t affect Bitcoin at all – and overall confidence in cryptocurrency has clearly taken a knock.
The vast majority of cryptocurrencies have had a bumpy weekend, though, and that does point to those broader confidence issues, rather than anything specific to Bitcoin. But Bitcoin, due to its profile, is always likely to be the one namechecked.
You can keep up to date with the price of Bitcoin here. It might just be another bumpy week…