Top Bitcoin Myths – #11: Bitcoin is too volatile

The following guest post is one of a series courtesy of Marco Streng, CEO and Co-founder of Genesis Mining.

The value of Bitcoin has been indisputably volatile since its inception.

Rising from only a few cents in 2010 to over $1,200 in 2013 then dropping down to $400 where it has remained for much of 2014 to around $250 for 2015, and back up to $450 in early 2016. A large part of this volatility comes from speculative investors. However, as a new concept, it is finding its way. This is to be expected. As market acceptance increases, as more investors become involved in this asset class, as more merchants begin to accept Bitcoin, the market will mature and volatility will decrease.

The current regulatory landscape of Bitcoin is uncertain. The price drop that occurred in December was widely believed to be in part caused by negative statements regarding Bitcoin from Chinese regulators. In one day, the price of Bitcoin dropped 50% upon a release that China was seeking to ban bitcoin which was later determined to be false. It is believed that as the upcoming years unfold, all major countries will issue their rulings on how Bitcoin will be treated which should provide stability from this uncertainty.

Read more ... source: TheBitcoinNews

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