Bitcoin price expected to remain volatile in 2014

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With the incredible price gains Bitcoin made in 2014, it is expected that the virtual currency will continue to grow in value, although not without the sporadic dips it already saw the past year. The price of Bitcoin has been hovering around $800 USD since December, when the cryptocurrency world experienced a shock after the Chinese government banned its use in the country.

Ironcally, Chinese buyers constitute a sizable portion of the Bitcoin trader population, according to Bitcoin tracking site FiatLeak. Meanwhile, Bitcoin is continuing to gain acceptance elsewhere in the world, as the number of merchants accepting is growing daily. NBA team the Sacramento Kings announced last week that it would accept Bitcoin as a method of payment for its tickets and merchandise.

The opening of the Bitcoin Center NYC on Broad Street in Downtown Manhattan marks perhaps the most noticeable physical presence of a Bitcoin-related facility to date. The private company is located right in the middle of Wall Street, perhaps as an ominous sign to the incumbents of the financial services industry. The opening was covered by CNBC and other news outlets.

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