Bitcoin is experiencing its longest period of price stability in months, a trend that could help allay concerns that the digital currency is just too volatile to be of much mainstream use. Starting in October, Bitcoin began experiencing almost violent price swings, driven largely by a run-up, and just as soon, a free fall, in Chinese demand.
Earlier in January Bitcoin, as it receded as recipient of an infinite press, began to see its trading range tighten after months of wild swings. I pointed this out as perhaps the start of new stability for Bitcoin, which in turn could help its platform mature, or indicate maturation thereof. There was some squawking that the time frame I had selected as ‘enough’ to indicate a trend was too short. It was a reasonable complaint. Happily, Bitcoin has behaved and exonerated me by tacking on another tranche of time of generally stable prices.