No, this is not a typo. While Bitcoin has been quiet, it has not been volatile. While other cryptocurrencies have been very volatile and have experienced significant downturns in value over the last year, Bitcoin has had a much more muted performance since its peak in December 2017. It is still up over the past year, but not as much as other cryptocurrencies like Ethereum and Bitcoin Cash.
The market value of bitcoin has consistently risen in the last few years, but it’s still a far cry from the value of its non-digital counterparts, such as the stock market. Not only is the value of bitcoin more stable, but it is also safer than the traditional stock market. In 2017, the Dow Jones Industrial average had a mere 0.5% volatility , whereas bitcoin was relatively stable, with a volatility of only 0.3% . Even though bitcoin is still young in terms of its history, it’s clear that it’s here to stay. As such, it is time to change the way we think about investing. Instead of putting your money into stocks and
Commenting on bitcoin’s (BTC) volatility, Binance CEO Changpeng CZ Zhao said the largest cryptocurrency by market capitalization is likely to be less volatile than the stock prices of similar-sized companies by market capitalization, such as Apple and Tesla.
Woobull’s data shows that bitcoin’s 60-day volatility has been steadily declining since early 2021. However, data from investment research portal AlphaQuery shows that the prices of Tesla and Apple shares have significantly lower 60-day volatility over the same period.
Volatility ofBTC over 60 days, courtesy of Woobull Charts.
In an interview with Bloomberg TV on Monday, the Binance executive argued that the volatility of cryptocurrencies is no different from the stock market, adding: Volatility occurs everywhere […] It is not unique to cryptocurrencies.
There are always more people with a herd mentality than people who do serious [email protected]_binance, founder of the world’s largest crypto-currency exchange, Binance, discusses the volatility of the #crypto-currency markets on @BloombergTV pic.twitter.com/UAT4Kpy1tu
– Bloomberg (@business) May 3, 2021
According to Zhao, profit hunters, who are often not as dedicated to cryptocurrency projects as true believers, are often to blame for price volatility due to their large numbers.
There are always more people with a herd mentality than people who do serious research.
When negative news appears, they run away, and when positive news appears, they try to rush, leading to more volatility, Zhao said.
The CEO’s characterization of cryptocurrency enthusiasts as fans who truly understand and love the project is consistent with his previous statements about his personal attitude towards the industry as a whole.
In April, Zhao revealed that nearly 100% of his net worth was in cryptocurrencies.
The cryptocurrency market saw significant growth on Monday, with the total market capitalization rising more than 4.5 percent in the past 24 hours.
Ether’s (ETH) rise towards the $3,000 mark for the first time in its history was the highlight of the day, especially among the top 10 tokens ranked by market cap.
It looks like bitcoin will test the $60,000 level for the first time since mid-April, a level that was reached on the 24th. April was preceded by a slight correction below $50,000.
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Frequently Asked Questions
Is Bitcoin more volatile than stocks?
As you can see from the tesla vs bitcoin chart, Bitcoin has been over three times more volatile than the S&P 500, but this is to be expected from a very young currency that has only existed for a few years, and whose market capitalization is still significantly smaller than that of a single large company like Apple. However, Bitcoin is still a long way away from reaching the levels of volatility seen in other markets, like the currency pairs of emerging markets, which are known for their wild swings. Bitcoin and other cryptocurrencies are getting a lot of attention right now because of the huge gains in the value of Bitcoin. The price of Bitcoin is trading at around $14,000. This is the highest it has ever been. Even if you don’t follow the crypto markets, you have probably heard about the massive gains that people have made this year. People have made a lot of money buying Bitcoin and other cryptocurrencies but when you look at the price gains with a longer term view, you see that the price is up 1000% in 2017, but it is down 50% from its peak. The volatility in the crypto markets is a lot higher than the stock market. The volatility is much higher in the crypto markets because people are investing
Why is Bitcoin so volatile?
Bitcoin is a volatile market. Its value changes much more dramatically than that of other currencies. The price of Bitcoin can swing 10% or more in a single day! It is this volatility that makes it so interesting to so many people. This is a post that will try to explain why Bitcoin is so volatile. Much of the volatility in the price of Bitcoin comes from the fact that it is still a small market that is highly unpredictable. Many people speculate on the price of Bitcoin, while few actually use it as currency. Because Bitcoin is not backed by a central bank, it is vulnerable to large price swings, though Bitcoin and other Cryptocurrency experts have begun to take measures to ensure that future market fluctuations are less dramatic.
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