Bitcoin volatility explained

Fear and uncertainty. This is what holders of bitcoin and the thousand other cryptocurrencies out there. This is a normal feeling believe me. This just means that you're human. Bitcoin price in particular, gyrates simply because it is still finding its true value. Bitcoin is so new as an asset, trading instrument, store of value etc that its price simply cannot be discern for now. This is what we call price discovery, price exploration, determining value etc. A good way of looking at it is likened to valuing raw land. For the same land different people have different opinion on the value. A person looking for a family home values the land as so, while an apartment business owner values the same lot differently. If you ask a farmer for his price on the said lot, I am sure it will be different from the two former valuations. Bitcoin is currently in this state. A lot of different people, with different uses for bitcoin are currently pulling and pushing the price up and down. This is a normal and an essential phase that any store of value, currency or what have you should go through as it is being slowly adapted by the majority. So sit back and enjoy the ride, buy bitcoin with your spare cash only for this is so far the biggest wealth redistribution in human history. Buy bitcoin and be part of history.