[–] Caboose_Calloway 0 points 3 points 3 points (+3|-0) ago
Because there are relatively few people trading with it. As the userbase grows the fluctuations will become less steep. The most important factor for stabilization is trading in exchange for commodity goods i.e. not speculative trading.
[–] EazyC 0 points 3 points 3 points (+3|-0) ago
Most likely the increased amount of media coverage of bitcoin because of the Greece meltdown is causing both new people to look into the currency and buy in as well as increased normal economic activity of BTC directly because of Greece. tl;dr: Greece.
[–] Crackmacs 0 points 1 point 1 point (+1|-0) ago
maybe ask in /v/bitcoin
[–] Seyfert 1 point 0 points 1 point (+1|-1) ago
Also another big reason is that some really big BC "vaults" or "banks" were hacked a while back where people lost millions of dollars worth of BC. So a lot of people viewed it as not being a secure type of currency and probably tried to sell out everything -> BC value goes down.
[–] Realistically 0 points 4 points 4 points (+4|-0) ago
Investment or inflation/deflation of that particular currency in the world economics.
[–] anamorphic [S] 0 points 2 points 2 points (+2|-0) ago
Is there a reason this is hitting bitcoin so much more than other currencies? Or is it because bitcoin has always had a measure of volatility to it?
[–] Realistically 0 points 2 points 2 points (+2|-0) ago
Well bitcoin is a very interesting form of currencies. I think that it should have a more consistent fluctuation, because it's not necessarily tied to a government that has product or gold to support the currency. The US dollar is more stable because the amount of production and the size of economy it is directly linked to.