As those who follow Bitcoin, it has been an extremely volatile week for Bitcoin pricing. We have seen stability of late around the $100 per Bitcoin value and suddenly during the week of April 6 -13 the value shot up to $266 per Bitcoin. Inevitably, as with all market rushes, there was an anticipated drop in value pending.
If we review the graph below, we can see just how pronounced the pricing increase was in the span of the entire week. Click photo for larger image.
If we review the graph below, we can see just how pronounced the pricing increase was in the span of the entire week. Click photo for larger image.
From this graph, you can clearly see the value of Bitcoin jump from $140 to $260+ within April 7-10. This effectively doubled the market capitalization of Bitcoin from $1.5B to $3.0B in three days. As expected, this was not sustainable and the pricing corrected itself later on April 10th.
What has been seen since that time is the return of Bitcoin to the more market stabilized pricing of around $100 per Bitcoin. This shows inherently that Bitcoin did not crash as many websites have predicted but the "manic" buying was a factor of over hyping a new technology and could not be sustained within such a short period of time.
If you review the market capitalization of Bitcoin today, you will see the return to $1.3B or roughly back where this whole process started.
What has been seen since that time is the return of Bitcoin to the more market stabilized pricing of around $100 per Bitcoin. This shows inherently that Bitcoin did not crash as many websites have predicted but the "manic" buying was a factor of over hyping a new technology and could not be sustained within such a short period of time.
If you review the market capitalization of Bitcoin today, you will see the return to $1.3B or roughly back where this whole process started.
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