Bitcoin's price surges have investors on a wild ride.

The digital currency's 10-day volatility surged to 125% last week, according to data compiled by Bloomberg. That volatility level surpassed the 102% peak the S&P 500 Index reached in October 2008, just as the financial crisis sent markets into a tailspin.

Should the rampant swings in price continue, bitcoin volatility could reach levels seen for stocks during the Black Monday plunge in October 1987, when volatility peaked at 153%.

Bitcoin prices surged late Sunday, Dec. 10, and into Monday, Dec. 11, as Cboe launched the first bitcoin futures contracts. Exchange regulators halted trading twice during the currency's first futures outing in order to tame market volatility.

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The futures contract, which settles for cash on Jan. 18, opened at a price of $15,460 and promptly fell $40 until prices rebounded to as high as $18,850, according to Cboe data, before easing to around $17,520 with just under 2,800 contracts changing hands.

Bitcoin traded at $16,539 early Monday morning, according to CoinDesk, up 10% for the day.

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