On Saturday and Sunday, bitcoin demonstrated remarkable volatility. The price of the digital currency first rose to $265 on Saturday and then fell to $230 on Sunday.


According to the Coindesk Bitcoin Price Index, the digital currency broke through the $240 mark in the middle of Saturday night. Bitcoin gained more than 10% in the course of Saturday trading, ending the day at $256.

Sunday began with further growth, and at 12 pm UTC the price of bitcoin peaked at $259. Immediately afterwards, it started the fall: by 8 pm UTC on Sunday, the price of one bitcoin was around $230.

The sudden upsurge in the price occurred after news of the possible integration of bitcoin into a new Google-developed system of electronic payments appeared.

The start of the fall coincided with news about the disappearance of 7,170 bitcoins from one of the Chinese vaults. According to the initial reports, the bitcoins in question were in cold storage.