30 May '17, 5am

Bitcoin's rapid surge raises reasons to question the latest frenzy

But signs of a top have emerged, detractors warn. On May 25, bitcoin surged more than $300 to a record only to turn tail and close little changed. The $600 round trip was the biggest daily swing in its history. It then slumped 8 percent the next day. Bitcoin was little changed at $2,310 as of 7:39 a.m. in New York. For bears, that kind of volatility shows the asset’s unreliability as a store of value.

Full article: https://www.bloomberg.com/news/articles/2017-05-30/bitcoi...

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