Here’s why bitcoin is extremely volatile

A worker holds a sign at the first bitcoin retail store open in Hong Kong on February 28, 2014 in Hong Kong. Asia Nexgen, a Hong Kong based bitcoin exchange has launched a physical store enabling customers to purchase bitcoin and store it in their digital bitcoin wallets. Bitcoin Group HK and Hong Kong Bitcoin ATM plan to launch bitcoin 'ATM's machines in the area. in 2008 Bitcoin was launched as an alternative currency, with the commodity boasting the ability to be transferred without the need of the traditional monetary banking system. (Photo by )Lam Yik Fei/Getty Images

In early January, Bitcoin came within a whisker of topping its all-time high of $1,165.89, reached on November 30, 2013. Then it promptly fell off a cliff, plunging by 29 percent between January 4 and January 6, following warnings issued last week by the Chinese central bank to the country’s three largest Bitcoin exchanges.

Where the price will finally stabilize remains an open question, as far as investors, traders and players in the market are concerned. For institutions and hedge funds that invest in alternative assets, the potential advantage that Read more ... source: TheBitcoinNews

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