Hello guys, In 2017, Bitcoins price soared from 1,000 usd to just under 20,000 usd before dropping down to around 13,000 usd at the end of the year. Since then, its value has risen and dropped sporadically from day to day. now its around 8,300 usd. So what may cause this drastic change of bitcoin value ?
Big bitcoat volatility is due to the fact that the market of cryptocurrency is still too young. Any minor news can trigger a price change. As the market develops, the volatility of the cryptocurrency will decrease. The more people will use bitcoin, the less there will be price fluctuations.