In regards to Bitcoin (or cryptocurrencies in general), some forget that an exchange rate is a function of two entities, not one. Point being, clearly Bitcoin's exchange rate is volatile, but how much is due to Bitcoin and how much is due to the currency manipulation on the other end?

I would think a non-trivial amount of the Bitcoin exchange rate volatility is not in relation to the burgeoning currency itself, and may actually be more dollar-related (or domestic currency-related). Remember, Bitcoin's supply is fixed. The dollar's is not. Any news on what the Fed will do in regards to QE or interest rates affect a fixed-supply currency's exchange rate with the USD dramatically. Whereas, the USD exchange rate with foreign currencies may not fluctuate as much because those foreign currencies may also be manipulating their supply in response to the Fed's communications and, further, their economies are already largely linked to the USD.

Just something to keep in mind.