Bitcoin tanked as much as 23 percent Thursday afternoon after nearing an all-time high earlier in the trading day.The world's largest cryptocurrency by market cap traded as low as $887.47, down from the day's high of $1,153.02, according to CoinDesk data.The high for the day was just shy of $1,165.89 set on November 30, 2013.The price has recovered somewhat from the day's low to about $973.89 at the time of publication.However, bitcoin beat its high on some other cryptocurrency exchanges.Whereas CoinDesk's price index takes into account many different bitcoin exchanges – individual exchanges, where users can trade bitcoin, noted their own highest prices were exceeded.Among these were one of China's biggest and most liquid exchanges, BTC China.Industry experts said the rapid rally in bitcoin created a little bubble which is now bursting but the long-term prospects are still positive."Once we broke through the nominal all-time high, liquidity dried up – no shorts, no sellers, which means a volatile little bubble formed quickly," Peter Smith, chief executive of bitcoin wallet Blockchain, told CNBC by email.

"We are seeing the effects of that now.It's still fairly thin trading volume though.I expect the market will find a floor and stabilize somewhere in the $850 to $1,000 range, but we'll see."Wild swings in bitcoin's price are not unusual and volatility is a characteristic of the virtual currency.Yuan rise behind bitcoin fall?CNBC recently outlined the reason behind the latest rally in bitcoin.One key reason has been the recent devaluation of the yuan as well as the threat of capital controls across many countries.The majority of bitcoin trade comes out of China so it has a big influence.But on Thursday, the yuan rose against the dollar.The reason behind this was a sell-off in the dollar due to uncertainty around the future of U.S.Federal Reserve rate hikes, as well as state intervention by China in its currency.The rise in the yuan led to a fall in bitcoin."It is absolutely tied to China.If the yuan goes up, bitcoin goes down," Dan Collins, CEO of technology consultancy firm CCO Global, told CNBC in an interview on Thursday.

Contents:Author info Abstract Bibliographic info Download info Related research References Citations Lists Statistics Corrections AbstractThis paper augments the current research suggesting the less rational factors like attractiveness of Bitcoin and speculative investments to be influential for excessive volatility.In particular, it examines the sentiment as a driver of Bitcoin volatility.litecoin pool registerThe paper contributes with economic rationale about a link between sentiment and Bitcoin.bitcoin bowl 2014 tvFurther, the authors propose a unique decomposition of Bitcoin price to rational and less rational components.bitcoin to reach 10000The paper tests this theoretical prediction with unique sentiment intraday data in the period of 12/12/2013 – 12/31/2015.btw op bitcoins

The findings of the paper show the marginal presence of sentiment during the overall studied period.However, the explanato- ry power of sentiment significantly increases during the period of excessive volatility, especially dur- ing the bubble period at the end of the year 2013 and beginning of 2014.Moreover, the findings show that positive sentiment is more influential for Bitcoin excessive volatility.send bitcoin to skrillDownload Info If you experience problems downloading a file, check if you have the proper application to view it first.38 gh/s bitcoinIn case of further problems read the IDEAS help page.comprar jogos bitcoinNote that these files are not on the IDEAS site.bitcoin mining venezuela

Please be patient as the files may be large.File URL: ftp://ftp.mendelu.cz/RePEc/men/wpaper/58_2016.pdfFile Function: Full textDownload Restriction: no Bibliographic Info Paper provided by Mendel University in Brno, Faculty of Business and Economics in its series MENDELU Working Papers in Business and Economics with number 2016-58.HTML HTML with abstract plain text plain text with abstract BibTeX RIS (EndNote, RefMan, ProCite) ReDIF JSON in new window Length: 15 Date of creation: Mar 2016 Handle: RePEc:men:wpaper:58_2016 Contact details of provider: Postal: Zemědělská 1, BrnoPhone: +420-5-45131111Fax: +420-5-45212287Web page: http://vyzc.pef.mendelu.cz/enEmail: More information through EDIRC References References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.: HTML HTML with abstract plain text plain text with abstract BibTeX RIS (EndNote, RefMan, ProCite) ReDIF JSON in new window Kaplanski, Guy & Levy, Haim, 2010.ncr pos bitcoin

"Sentiment and stock prices: The case of aviation disasters," Journal of Financial Economics, Elsevier, vol.95(2), pages 174-201, February."Is Bitcoin a Real Currency?An economic appraisal," NBER Working Papers 19747, National Bureau of Economic Research, Inc."Forecasting Mortgages: Internet Search Data as a Proxy for Mortgage Credit Demand," Working Papers 2014/14, Czech National Bank, Research Department.Pavel Ciaian & Miroslava Rajcaniova & d’Artis Kancs, 2016."The digital agenda of virtual currencies: Can BitCoin become a global currency?," Information Systems and e-Business Management, Springer, vol.14(4), pages 883-919, November.D'Artis Kancs & Pavel Ciaian & Rajcaniova Miroslava, 2015."The Digital Agenda of Virtual Currencies.Can BitCoin Become a Global Currency?," JRC Working Papers JRC97043, Joint Research Centre (Seville site).Full references (including those not matched with items on IDEAS) Lists This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

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