Bitcoin Stability Hits 17-Week High

in #bitcoin5 years ago

Following up news on Bitcoin's stability, volatility continues to decline


Image source: pixabay - MonikaP

Volatility is one of the largest concern for almost every financial institution. The massive pump-and-dump, price manipulation and lack of regulation shed a negative light on Bitcoin and cryptocurrencies for the past year. This has deterred major decisions on Bitcoin ETFs to be rejected and postponed repeatedly.

Bitcoin's volatility at a 17-week low indicates a steady amount of trading for cryptocurrencies.

"This could be a signal that the cryptocurrency market is maturing," said Nigel Green, founder of DeVere Group, a financial advisory organisation.
Source: businesstimes

Coincidentally, Bitcoin is celebrating its 10th anniversary. It has been a long journey since the founders paved a way for a new future.

"This is a maturing market, so volatility should continue to decline. When you have a new market, it will be highly volatile until it establishes itself. There are more participants, more derivatives, more ways of trading, hedging and arbitraging," said Mike McGlone, Bloomberg Intelligence commodity strategist.
Source: businesstimes


Image source: pixabay - Free-Photos

Bitcoin's price stabilization has also led to a decline in speculative investments. Gil Luria, director of research at DA Davidson & Co., noted that price speculation comes along when people want to make lots of profit in a short period of time. Speculators usually move on to other volatile assets.

HODLers of Bitcoin are definitely gaining on the long-term value of BTC. Investors are optimistic about the possibility of Bitcoin becoming a store of value as well as an asset. The argument that SEC made for rejecting Bitcoin ETFs are no longer valid.

"Just recently the volatility in Bitcoin was not as great as the volatility we’ve seen in other securities, such as the VIX product," SEC Chairman Jay Clayton said.
Source: bitcoinist - Julio Gul-Pulgar

We are also not required to listen to fools. As Bitcoin is not yet a full-fledged investment product, investment companies are unable to promote Bitcoin for their personal gains. Investment companies are known to charge high fees and to act as the middleman. We should render their services obsolete.

Although Bitcoin's 30-day volatility is at 1.71 percent, its one-year volatility is still at 4.86 percent. If the trend continues for 2019, Bitcoin could achieve an all-year low volatility. Previously, Bitcoin has reached an low-time low volatility of 0.82 percent during April 2016.


Source: bitvol.info

Stay tuned for more updates on Bitcoin and cryptocurrencies.

-tysler

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We love the roller coaster actually :p

bigger the ride, double the fun.

Roller coaster is on at slow pace now :p

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