Bitcoin returns to a volatile market after a sharp rise and fall

The price of Bitcoin continued to move sideways in the Asian session on Thursday (October 22), and after falling back yesterday, it fell into a volatile market again.

     The quotes released by BITSTAMP show that Bitcoin/ US dollar (XBT/USD) fell from above 272 to 265 yesterday, and then rebounded to around 269. It fluctuated and hovered at 268 in the Asian session of this trading day.

(Bitcoin/US dollar time-sharing chart Source: Bloomberg, FX168 Financial Network)

     The quotes released by KRAKEN showed that Bitcoin/ Euro (XBT/EUR) fell from the 238 level to below 233 yesterday, and then rebounded to around 236. It fluctuated around the 235 level in the Asian session of this trading day.

(Bitcoin/Euro time-sharing chart Source: Bloomberg, FX168 Financial Network)

     The quotes released by Huobi.com show that Bitcoin/ CNY fell from around 1769 to around 1708 yesterday, and then rebounded to around 1740. It fluctuated around 1730 in the Asian session of this trading day.

(Bitcoin/RMB 30-minute chart Source: Huobi.com)

     In the industry , VodaNet, which is famous for selling holiday packages at low prices, announced that it will accept Bitcoin payments. Bitcoin's extremely low transaction fees and convenience may be the key.

     The extremely low transaction fees make it the best payment method for many people working in the direct sales market. Adding a payment method often increases business volume, which is particularly significant in the direct sales market.

     VodaNet said, “We decided to accept Bitcoin payments because we believe Bitcoin will make payments more convenient for customers. Customers don’t have to worry about international transfers, bank holiday extensions and other restrictions. Using Bitcoin payments allows customers to purchase holiday packages anytime, anywhere, as well as transfer and accept Bitcoin.”

     At 12:48 Beijing time on October 22, Bitcoin/USD was 268.08, Bitcoin/Euro was 234.53, and Bitcoin/ RMB was 1736.07.