Since Bitcoin was introduced more than a decade ago, its price has been rapidly rising and frequently associated with high volatility. Historically speaking, the rapid changes in Bitcoin price and value have made it consistently volatile.
Like most existing digital currencies or cryptocurrencies, Bitcoin is a very volatile cryptocurrency. Many past instances have shown how volatile Bitcoin value and price have been and can be; for example, between November 2017 and December 2017, its price had increased by at least 220 percent.
But why has bitcoin price and value been so volatile? Well, the upward and downward price fluctuations and volatility of Bitcoin price on cryptocurrency exchanges are determined by many factors. This article discusses 11 factors that have determined and can still determine Bitcoin price volatility, and Bitcoin price and value around a particular time period. Now let’s get right into it: the 11 factors are as follows:
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