The price of bitcoin [BTC] has fluctuated laterally over the last two months since its decline on September 6. It was between $ 6,200 and $ 6,600, which is one of the longest periods of non-volatility in the history of cryptocurrency.
Leading Wall Street analysts have begun to see the stability of one of the most volatile asset classes in recent history. Michael Moro, CEO of Genesis Trading, recently revealed in an interview that he recognized its potential as a digital gold.
Recent research has shown that the largest cryptocurrency is less volatile than some of the most popular stocks traded on traditional markets. According to Cboe Global Markets, historical volatility over the past 20 days has been reduced to a low of 31.5%. In comparison, Amazon, Netflix and Nvidia stocks are more volatile than Bitcoin: 35%, 52% and 40%, respectively.
The volatility of Bitcoin is close to that of Apple with 29.3%. Kevin Davitt, Senior Lecturer at CBOE’s Options Institute, said:
“One difference from the standard deviation for Bitcoin is currently around $ 475, which is +/- 7.3% (475/6500), compare that with that of earlier this year (half January), when Bitcoin was at 11,000, the standard deviation was $ 4,640 or +/- 42%. “
It has been reported that the volatility of Bitcoin during the historical decline of the $ 20,000 mark has reached a maximum of 140%. However, it dissipates further in relation to the volatility observed by Tilray, a cannabis producer. Tilray’s shares currently have historical volatility of 219%.
The volatility of Bitcoin has been cited as one of the reasons why this is not an adequate investment. The recent lateral move has been a boon to crypto-space enthusiasts, as it shows that the price may be in a period of non-volatility for a long time.
“Perhaps we are experiencing the maturing of the market, it is still too early to call this a” new normal “, but the continued bandwidth of recent weeks could indicate a structural change. Time will tell.”
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