In brief
Bitcoin realised volatility continue to climb, highest since 2020 March crash. pic.twitter.com/iz5ADzFoYZ
— unfolded. (@cryptounfolded) January 24, 2021
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-11.65%Reading
Bitcoin’s realized volatility has reached levels as high as March 2020, the month in which Bitcoin crashed due to COVID-19, according to data from analytics company Skew.
Bitcoin realised volatility continue to climb, highest since 2020 March crash. pic.twitter.com/iz5ADzFoYZ
— unfolded. (@cryptounfolded) January 24, 2021
‘Realized volatility’ refers to the average fluctuation of a coin’s price over a 30-day period. Skew measures volatility by working out the standard deviation in the price of Bitcoin over time.
In the past month, the figure touched 103%, the company’s data showed. This means that in the past 30 days, the price of Bitcoin deviated from its average price by 103%.
Contributing to this over the past month are the sudden peaks and troughs of Bitcoin’s price. A huge sell-off on January 11, caused Bitcoin to suffer its largest daily price drop, and in the weeks prior to the Bitcoin hit $41,000, its highest price ever.
Although the volatility figures are similar to those of last March, when Bitcoin crashed once the pandemic kicked into gear (just like everything else), the main difference is we’re in a bull run.
During bull runs, price fluctuations are more common as investors cash out at different points. Pedro Febrero, an analyst at Quantum Economics, told Decrypt: "The more volatility the price has, the greater the magnitude of the change in the prices of bitcoin. During bull runs, this is to be expected."
GameStop stock closed at a new record today of $65.01 after closing at $43.03 yesterday. Ten days ago, it wasn’t even worth $20—and five months ago, you could get a share for a fiver. That’s some Bitcoin-like growth for the video game retailer. Moreover, the 51% rise in the last day comes in the same form as a cryptocurrency pump scheme: vocal Redditors, urging others to buy, buy, buy—and blasting anyone with the temerity to sell in the midst of a rally. After losing 96%, GameStop's stock pric...
Despite Bitcoin’s volatility, it has outperformed other assets—such as gold—in the past year.
Plus, overall the volatility of Bitcoin is going down: as the price and market cap of the cryptocurrency has increased over time, the volatility of the asset has decreased.
And over the past year, Bitcoin and other cryptocurrencies are up and performing better than traditional investments.
One anonymous investor tracked ten cryptocurrencies over the course of 2020 and found that they performed over eight times better than the US stock market: his $1000 crypto investment grew 139%, while the S&P 500 was up 16%.
Bitcoin infrastructure company, Blockstream, is betting it can do what others have failed to do: bring working smart contracts to the Bitcoin network. On Thursday, Blockstream, a Canadian Bitcoin infrastructure firm that builds tech for decentralized finance, launched Simplicity, a smart contract programming language for its Liquid sidechain. The goal is to bring Ethereum-style functionality to Bitcoin, without the bloat or security risks. Smart contracts have long been a missing piece of Bitcoi...
Robinhood CEO Vlad Tenev referenced tokenization nearly a dozen times during the company’s second-quarter earnings broadcast on Wednesday, highlighting how the once-esoteric term is becoming a cornerstone of the retail brokerage’s crypto strategy. In total, Tenev referenced tokenization 11 times, while also mentioning Robinhood’s stock tokens on a handful of occasions. The digital assets, which offer synthetic exposure to private companies like SpaceX and OpenAI, were unveiled for European users...
Bitcoin whales holding between 10 and 10,000 BTC accumulated 0.9% of the total supply over the past four months, according the crypto market analytics platform Santiment. That bumps up to a full 1% when you consider that there's 19,899,417 BTC currently circulating, leaving a portion of the original 21 million total Bitcoin supply that hasn't been mined. In the past 48 hours alone, Bitcoin whales accumulated 30,000 more BTC, on-chain analyst Ali Martinez said on X, citing Santiment dashboards....