In the last 7 days bitcoin has been as high as $418.61 and as low as $407.98 on the dinbits.com index. Despite it's overall stability over the last year, bitcoin remains volatile scaring some, delighting others, and outright confusing the rest.
Delightful to day-traders since volatility brings beneficial margins for profitable exchange, scary to short-term investors or new traders not comfortable with 20 point drops, and confusing as always to those who cannot seem to pinpoint the reasoning behind certain swings. Confusing since although sometimes (such as the rage quit) the reason for bitcoins movement is clear more often then not there is no clear indication as to why it goes up or down and that leaves analysts struggling to make sense of it all.
What's clear is that bitcoin is well over $155 higher than last year on this day. On March 21st, 2015 bitcoin closed at $259.62 and had been under $300 since January 3rd, 2015 when it dropped to $279.85. In fact bitcoin hit $300 only once between January 3rd and October 28th when it hit $309.98 on July 12th, 2015 and didn't see $400 all year until November 3rd when it finally peaked just above $400.
Despite a 20 point drop bottoming out at $407.98 over the weekend, bitcoin hit a high of $416.82 earlier and is showing signs of continued climb.
Jump on it.
Story by dinbits
image by dinbits staff