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What's behind the jumps and bumps in Bitcoin's price? - ABC

The price of Bitcoin has dropped to around $8,000 in the past few days, after almost hitting $10,000 in the past month, and rising more than 1,850 per cent since 2015 .

All of this shows how volatile the currency is, prompting the question, what leads to such huge movements?

Our ongoing research reveals four factors that affect the price of Bitcoin.

These include media hype and uptake by peers,...

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Date: 2017-12-30 08:12:19

Bitcoin mining likely uses more energy than it takes to ...

Map: Australia

The recent upsurge in the price of Bitcoin seems to have finally awakened the world to the massively destructive environmental consequences of this bubble.

These consequences were pointed out as long ago as 2013 by Australian sustainability analyst and entrepreneur Guy Lane, executive director of the Long Future Foundation .

In recent months, the Bitcoin bubble has got massively...

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Date: 2018-01-11 22:43:39

RBA warns bitcoin is a 'speculative mania', talks down ...

Map: Australia

The Reserve Bank governor has talked down the chances of a Government-issued cryptocurrency, despite a massive increase in electronic transactions.

In a speech in Sydney, Dr Philip Lowe said the major cryptocurrencies are not very effective as a way to pay for things, with high transaction costs, including the massive amounts of energy needed to "mine" them .

"When thought of...

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Date: 2018-01-11 20:41:32

Related topics : electronic currency payment system / how to make bitcoin payment system / new bitcoin like currency / electronic currency bitcoin / bitcoin banking system

China hits booming cryptocurrency market with coin ...

China hits booming cryptocurrency market with coin fundraising ban, Bitcoin value slides

Updated September 05, 2017 17:30:53

Map: China

China has banned the practice of raising funds through launches of token-based digital currencies.

The move was targeted at so-called initial coin offerings (ICO) in a market that has exploded since the start of the year.

ICOs have become a bonanza for digital...

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Date: 2017-12-20 01:09:56

Related topics : bitcoin market value total / bitcoin coin value / global digital currency exchange / global digital currency / bitcoin blockchain technology explained