OpenMarketCapIt’s no secret that the bitcoin price has had a rather volatile ride from 2009 when there really wasn’t a price and the project was just launching to today when a single bitcoin is trading for more than $11,000. This past week was particularly volatile for bitcoin, as the cryptocurrency traded between roughly $10,500 and $14,000. On Friday, Blockchain Capital’s Spencer Bogart chatted about these wild price swings and Facebook’s new Libra cryptocurrency with Bloomberg Technology’s Emily Chang. “That’s strictly a purchase in a scarce asset that’s used as a store of value to preserve capital over time,” added Bogart. The Facebook BumpWhen asked about Facebook’s Libra cryptocurrency and its effect on the bitcoin price, Bogart stated that the project has probably been the “biggest driver” in the past few weeks.

Source: Forbes June 30, 2019 08:03 UTC