How Long Will Bitcoin’s Price Boom Stick?

Is bitcoin making a comeback?
Oh, if we had a bitcoin for every time we’ve heard that question.
Actually, that would be pretty difficult to calculate how much we’d actually have in real dollars since its price trend is so volatile.
Every time bitcoin shoots above the $500 mark, the digital currency world starts buzzing about why bitcoin is here to stay and why it’s going to shoot above the $600 mark soon. And every time, bitcoin’s price dips back, and it gets denounced again.
For now, bitcoin is basking in its 21-month high price.
Now don’t get us wrong, bitcoin is trending at more than double what it was on June 3 last year ($225.65), but getting to the $530 mark doesn’t mean bitcoin has its groove back.
To be precise, $536.75 was bitcoin’s price yesterday afternoon.
But details aside, let’s not forget that this pales in comparison to bitcoin’s prime-time price of $1,242 on Nov. 29, 2013. While that price was impressive, it’s roughly two-and-a-half years ago and bitcoin’s price hasn’t come within an earshot of that since.
In fact, 2015′s bitcoin prices ranged mainly from the low $200s to around the mid $400s. The year 2016 has been a bit brighter for bitcoin, as bitcoin’s lowest price in 2016 was back on Jan. 16 at $358.77.
Talk about fluctuation. Can you imagine if the value of the U. S. dollar abroad spiked and dipped at this rapid of a rate?

This post was published at Pymnts on June 3, 2016.