Source, 30-Day BTC/USD volatility: https://btcvol.info/
Bitcoin used to be extremely volatile. In the early days of 2011, for instance, daily return volatility spiked over 15%. That's huge! For comparison, S&P 500 stocks tend to bounce around in that range over the course of a year.
Popular economic-political commentator Peter Schiff declared that "Bitcoin Is Just Too Volatile To Be Money" as recently as this last August, and the [in]famous investment bank, Goldman Sachs, issued a note to clients saying that Bitcoin is too volatile.
Bitcoin volatility is now about 1/4th the pre-2014 average, and 1/6th the 2010 highs. Of course, the future can bring anything, but, at least for now, commentators and investment bankers should update their data ranges and stop declaring Bitcoin "too volatile."
What are your thoughts?
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Rob Viglione is a PhD Candidate in Finance @UofSC with research interests in cryptofinance, asset pricing, and innovation. He is a former physicist, mercenary mathematician, and military officer with experience in satellite radar, space launch vehicles, and combat support intelligence. Currently a Principal at Key Force Consulting, LLC, a start-up consulting group in North Carolina, and Head of U.S. & Canada Ambassadors @BlockPay, Rob holds an MBA in Finance & Marketing and the PMP certification. He is a passionate libertarian who advocates peace, freedom, and respect for individual life.