Cryptocurrencies
Bitcoin Goes Wild as Volatility Jumps to Three-Month High
- Largest cryptocurrency fluctuates around $10,000 level
- Price swings approaching as much as 10% are common this week
Photographer: Chris Ratcliffe/Bloomberg
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Bitcoin volatility is back to levels not seen since early November, with the bulls and bears sparring at the $10,000 price level.
Historical swings over the past 10 days on the Bitcoin-U.S. dollar pair surged to 65% on Wednesday, the highest level since Nov. 6, according to data compiled by Bloomberg. Bitcoin plunged late in yesterday’s session, going from being little-changed at $10,168 to a drop of more than 8% to $9,327 about 45 minutes later. It recovered somewhat after that, and traded Thursday at $9,501 as of 12:52 p.m. in New York.