i'm new to the bitcoin community so i'm just very curious about what causes the prices to sometimes skyrocket but then drop really low so quickly. Thanks
With all the love for bitcoins, it is worth acknowledging that bitcoin jerks from any noise. China closes exchangers and the exchange rate drops. A new fork is being made and the rate is growing. Moreover, I did not find any good analytical obscuration on Bitcoin 2.0 (a new fork).
Now the US has collected a commission on the analysis of the Crypto-currency. And no one knows what can affect the course.
If many businesses start using bitcoin, then the rate will become stable. But now this is not.
I really think the price of bitcoin is not gonna become stable, bitcoin fluctuate much and it works that way even if the price was steady at the moment wait for it and it will somewhat move again, and because of the high demand right now, you can certainly see that the price rising and dropping is due to the good and bad news bitcoin has receiving so it is pretty normal even in the stock market you can always see this kind of stuff.