Bitcoin's Price Goes for Rollercoaster Ride

From $500 to $900 and back in a single day

As investors, technophiles and lawmakers debate the legitimacy of Bitcoin, one thing's for sure: the fledgling digital currency is on the roller coaster ride of a lifetime.

Within a 28-hour period stretching from Monday morning to early Tuesday, the price of the currency soared nearly 70%, from a little over $500 to an all-time high of $900.98 .. before plunging back down again to a level just above $500. (Bitcoins trade 24/7 online.)

By midday Tuesday, Bitcoin was back above $700, a 50-fold increase since the beginning of the year, when a single Bitcoin was worth around $13.