BitOffer: Why did Bitcoin's price fluctuate extremely volatile?

[Cici Lee]

Bitcoin is very different from traditional currency. As a product of complete centralization, traditional currency endorsed and guaranteed by the national government, so it is relatively stable. Even if there are ups and downs, it is within a reasonable range. Its circulation is huge, and it is an unlimited legal compensation, thus, if only one A little bit of volatility will still cause huge financial volatility and fear. From the beginning of the setting, it is impossible to experience a huge rise for the traditional currency fall like a roller coaster.

We can first take a look at the trend chart of the US dollar to Japanese yen



The highest point was during the Asian financial crisis in August 1998, 1 US dollar was exchanged for 147 yen, and the lowest point was around 2011. Due to the earthquake and the Fukushima nuclear power plant leak, the yen exchange rate skyrocketed, which greatly aggravated the Japanese companies’ Burden, the Japanese government had to react quickly to adjust the exchange rate.

The famous Japanese "Lost 20 Years" occurred after the Plaza Accord in the 1980s. During this time, the yen-dollar exchange rate continued to fall, and the yen also fell flat. But even in this extreme case, the fluctuation of the international mainstream currency is only about 63%, and the fluctuation of the relative bitcoin price is very different.

Bitcoin's currency value is not quite the same as these real-world monetary conditions. Bitcoin itself is more like a financial commodity. There are many reasons for the price of Bitcoin itself. For example, when Bitcoin was a few cents in the previous period, it was actually because not many people knew and recognized it, and it did not form an effective consensus. But then people gradually realized the value of Bitcoin. Of course, this value may come from the needs of transactions, collection needs, research needs, value-added additional landing projects, and so on. It also caused the price of Bitcoin to rise, but in summary, Bitcoin changed from a weak consensus to a strong consensus. At this time, the currency price also rose. In the early wild era, to the later golden age, bitcoin changed from a derogatory perception of air, scammers, and MLM to gold. The future, synonymous with hope, also indirectly changed the price of bitcoin.



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[damsix]

I think this is a new breakthrough for wealthy tycoons to invest even richer if prices rise and to bankrupt when prices dump. lol
I think this is a new breakthrough where I can get money faster because with a fluctuation like Bitcoin makes me happy.

I admit I am a person who is poor but maybe there is a little patience in the heart, where trading in Bitcoin requires patience, not greed.

[comer]

That's how Bitcoin attract many people of the world because of volatility. Prices up into higher value that create big profit draw interest of the public. I myself gets into Bitcoin because of the promise of higher income when value gets increase.

Knowledge in reading graphs, predicting market fluctuation, observing rumors Ang reading news greatly helps in investing successfully. Many people have gain big income just because they are very keen to market movement.

Supply and demand greatly affect volatility in the market.

[Hugo Barbosa]

Be patient and don't panic, calm down and don't let it cheat you.

[Senin]

High price volatility is a huge advantage and at the same time a big disadvantage of a decentralized cryptocurrency. Bitcoin price volatility attracts the attention of traders and people in general, who are expecting its further price growth. At the same time, high price volatility impedes the use of bitcoin as a means of payment.

[wahyudi]

With time, we can see that the price of Bitcoin is no longer fluctuating as much as what happened before.  The daily level of volatility (price changes per day) averaged less than 5% since 2015

[alltalk]

Actually it is not a surprising thing that Bitcoin price is very volatile. All crypto users must know about the volatility in Bitcoin price, especially how Bitcoin price can surge significantly. Many people expect to see the significant move in Bitcoin price, then they can gain big profits. Well, the big volatility in Bitcoin is caused by the demand in crypto market about Bitcoin, and it is decentralized (no one controls the price).

[Cryptoz]

Bitcoin price purely depends on the demands on the market. There is no party that can control the price or limits the high or low rate of Bitcoin. This way makes Bitcoin's price isn't controllable and unpredictable. But it is a good thing as investors or the holders can take more profits in that way.

[Review]

Recently i Don't hold btc because i Don't have much money right now to hold..again i prefer to hold altcoin than btc....i think if you want to hold  btc then you need much amount becuase hold lil amount has no benifit anymore..     

[Hugo Barbosa]

Most people think of volatility in the negative context, i.e. downside risk due to negative volatility. But any currency that was amongst the best performing for 6 of the last 7 years would mathetically be likely to amongst the most volatile as well.