Bitcoin Is Sliding Again. Why It’s Tumbling — and Why the Pain Can Continue.

Bitcoin’s slide resumed on Friday as it tumbled to $37,995, down about 9% in the past 24 hours. Investors had a respite for a couple of days after the cryptocurrency lost nearly 40% of its value from peak to trough this week, going from $49,860 to $30,200.

Just don’t expect calm to settle in.

Bitcoin is as volatile today as it was in 2014,…