“Bitcoin could be headed for another meteoric rise, but it’s clear the cryptocurrency hasn’t shaken the curse of volatility.
“Its value surged on Wednesday, passing the $13,000 mark, before it shed about $1,000 within minutes. Around 6 pm ET, the currency was back to a $12,400-plus valuation.
“The reason for the sudden midday sell off wasn’t immediately clear.
“But cryptocurrencies are known for price swings. A previous bitcoin craze hit a fever pitch in 2017. Bitcoin soared from just a few hundred dollars apiece in January 2017 to more than $20,000.
“But it came crashing down again. BItcoin’s value was still hovering around the $3,000 mark four months ago.
“Experts say a weakening US dollar and fresh discussions about regulating digital currencies are fueling the latest spike in demand.”
Read more at CNN