Bitcoin Has an Unusual Relationship With Volatility – Bloomberg

KW: I have no idea to be able to express an opinion about Bitcoin and the surge to $10,000+ in such a short time. Then yesterday it fell back to $8,500  then back up $1,500 and then back to $9,000 so why did it do that if there was intrinsic value in Bitcoin? To that question I don’t have an adequate answer. It’s only supposedly a means of exchange after all is it not?

Meanwhile…….. John McAfee has doubled down on his confidence in bitcoin by stating his belief it will be worth $1 million by the end of 2020. Bullishly, the controversial businessman said he will eat his own manhood if the cryptocurrency fails to perform to that level. The founder of the eponymously named security software, McAfee has something of reputation for backing the volatile cryptocurrency with outrageous comments. READ MORE: I’ll eat my d**k on national TV if bitcoin doesn’t surpass $500k in 3yrs – John McAfee

Too much hype could be the sign of a cryptocurrency bubble.

Source: Bitcoin Has an Unusual Relationship With Volatility – Bloomberg

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