The nearly boozy Bitcoin rallies and crashes of 2013 led to endless media coverage, rising mass market knowledge of its existence, and piece by piece, the growing maturity of its underlying network.
No asset that regularly loses or gains 50% in a day can be treated as anything more than a speculative tool, and an incredibly risky one at that. However, in the new year, as the media firestorm has mostly abated around Bitcoin and its network of buyers and sellers has continued to improve and expand, something interesting has happened: Bitcoin has found and stuck to a trading range.
Now, compared to more traditional currencies, Bitcoin still moves around too much for the good digestion of those close to it. At the same time, over the past nearly two weeks, it has shown remarkable flatness, meaning that those wishing to use and accept it for commerce have had a period in which they could trust their sales and purchases to not swing to wild profit or loss by whim of the market.
The Bitcoin D1 chart remains as humorous as ever (in this case, D1 means that every chart point represents one day’s trading):
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