When we say Bitcoin is volatile, we mean the price of Bitcoin is volatile. The spot rate of Bitcoin at various exchanges changes every moment and, moreover, it functions 24/7. Hence, any user or community member of Bitcoin is perturbed by the regularly changing price of Bitcoin. The following chart shows the price fluctuation of Bitcoin over the last financial year:
The volatility of Bitcoin is the most discussed topic and has been a concern for investors, miners, and supporters of Bitcoin since the exchanges of Bitcoin came up. Some prime reasons for this as follows:
- Security breaches: This has been a major issue in the price fluctuation of Bitcoin in the past; whenever news of security flaws at an exchange's end comes up, the price of Bitcoin takes a hit, since this makes the investors start to doubt a certain exchange or the Bitcoin network.
- Legal...
