Bitcoin the rollercoaster rumbles on

Yesterday Bitcoin staged a really quite impressive rally as it took a lead from the rebound in the US equity markets and improved risk backdrop. That allowed Bitcoin to extend the move back above 13,400 that was highlighted here. It then rose further into the US evening as the price lifted to as high as 13,675. However, the slump in global equity markets and US futures in particular has driven the price back down again this morning. It has fallen back below 13,400 again and is once again in danger of trading below 13,000. That remains to be seen. Irrespective of that; the takeaway from all the movement of the past 24 Hours is that Bitcoin is on a emotional risk based rollercoaster right now and that probably means there is more volatility and price elasticity to come again today. The fact that Bitcoin did not surpass the 13,857 previous high is also potentially significant. Bitcoin is just now trading at 13,190