December 27, 2017

Bitcoin Trading Sure Is Volatile

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I was puttering around this morning looking at the latest price for bitcoin, and I happened to switch over from a chart of closing prices to a box-and-whisker plot. Here’s what it looks like:

Two things jump out at me. First, trading this week—and for the past month—has been wildly variable. Over the course of just a few days, bitcoin trades have ranged from $10,000 to $16,000. That’s a huge range, and suggests quite a bit of trading friction.

Second, for four straight weeks the low trade has been at precisely $10,000. What’s up with that? Does it have something to do with the start of futures trading on December 10?

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We can afford to take our time because we don’t report to oligarchs or corporations. We report to you, and for you.

And the stakes are high. Democracy is on the defense. We’ve been exposing corruption and scandal for five decades, and this is a pivotal moment in our country’s history. Will democracy prevail? We won’t wait for time to tell—independent journalism is essential for democracy, and we’ll keep doing our part to amplify the free press.

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