Summary:
In what appears to be a stark role reversal, Bitcoin is now becoming less volatile money than Britain’s national currency. According to data provided by Bloomberg, the 30-day volatility of the British pound against the U.S. dollar has soared over the past month. Meanwhile, Bitcoin’s volatility has declined substantially since June, and again since the start of October. This has brought each currency’s volatility to a roughly equal point. BTC Volatility vs. GBP Volatility. Source: Bloomberg Bitcoin went down as one of the best-performing assets in the previous quarter – simply by staying relatively flat while stocks and commodities continued to fall. The pound experienced turbulent volatility at the end of September, almost declining to parity with the U.S. dollar. At
Topics:
Andrew Throuvalas considers the following as important: AA News
This could be interesting, too:
In what appears to be a stark role reversal, Bitcoin is now becoming less volatile money than Britain’s national currency. According to data provided by Bloomberg, the 30-day volatility of the British pound against the U.S. dollar has soared over the past month. Meanwhile, Bitcoin’s volatility has declined substantially since June, and again since the start of October. This has brought each currency’s volatility to a roughly equal point. BTC Volatility vs. GBP Volatility. Source: Bloomberg Bitcoin went down as one of the best-performing assets in the previous quarter – simply by staying relatively flat while stocks and commodities continued to fall. The pound experienced turbulent volatility at the end of September, almost declining to parity with the U.S. dollar. At
Topics:
Andrew Throuvalas considers the following as important: AA News
This could be interesting, too:
Wayne Jones writes Charles Schwab to Launch Spot Crypto ETFs if Regulations Change
Wayne Jones writes Here’s When FTX Expects to Start Repaying Customers .5B
Dimitar Dzhondzhorov writes Is Cryptoqueen Ruja Ignatova Alive and Hiding in South Africa? (Report)
Wayne Jones writes Casa CEO Exposes Shocking Phishing Scam Targeting Wealthy Crypto Users
In what appears to be a stark role reversal, Bitcoin is now becoming less volatile money than Britain’s national currency.
- According to data provided by Bloomberg, the 30-day volatility of the British pound against the U.S. dollar has soared over the past month.
- Meanwhile, Bitcoin’s volatility has declined substantially since June, and again since the start of October. This has brought each currency’s volatility to a roughly equal point.
BTC Volatility vs. GBP Volatility. Source: Bloomberg - Bitcoin went down as one of the best-performing assets in the previous quarter – simply by staying relatively flat while stocks and commodities continued to fall.
- The pound experienced turbulent volatility at the end of September, almost declining to parity with the U.S. dollar. At the same time, trading volume for the BTC / GBP trading pair soared – an emerging trend among collapsing currencies.
- Global bond markets are also showing heightened volatility against Bitcoin, despite the former’s reputation for safety and dependability, and the latter’s reputation as a risk asset.
- In Britain’s case, the Bank of England has now returned to temporary quantitative easing to curb instability in its bond market, which nearly caused a “Lehman moment” in September.
- Many central banks – including former Fed chair Ben Bernanke – have previously denied that Bitcoin could constitute a form of money, largely due to being too volatile.
- Sweden’s central bank presented a similar argument in May: “The price of Bitcoin has had a high degree of volatility and is thus a relatively poor preserver,” it explained over Twitter.
