Is Bitcoin Stability A Prelude To Volatility?

After a period of marked volatility, the markets seem tranquil. But could this be another scene of calmness before the storm? In the last 24 hours the Bitcoin’s price has been testing the $400 level, with less-volatile fluctuations. It seems that the price has stabilized at the $400-$395 level for the moment. The price action is below the pivot point today at $418. Any further declines will be tempered by the support level at $359.01 and $318.48. These levels may be the catalyst for a reversal of the current downward trend, as at lower prices, more buyers will be tempted to enter the market.
Bitcoin can offer a lot to the charity sector, as low transaction fees for international payments means that recipients of charity can receive more the funds raised. Greenpeace is one of the charities that has recognized Bitcoin’s potential to transform how charity funds are distributed. Greenpeace announced today that it will accept donations in Bitcoin and signals a possible shift towards Bitcoin and Blockchain technology to make charities more efficient and transparent. Also, Bitcoin makes it possible to send small payments at virtually no cost, so now it is economically feasible to make micropayments to charities. This development should entice more non-profit organizations into the Bitcoin space and encourage adoption, increasing the value of Bitcoin.

This post was published at Investing on Sep 23, 2014.

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