Bitcoin vs Fiat. So who of volatility?
Source:
Often criticized because of its strong volatility. In April 2018, said the President and CEO of the Federal reserve Bank of new York John Williams, «the volatility makes Bitcoin and other cryptocurrencies unstable store of value. This prevents using it as a payment tool». However, over the past year Bitcoin has shown remarkable stability. The dynamics of the cryptocurrency was even better than many Fiat currencies.
A 30-day and 60-day volatility of Bitcoin against the U.S. dollar at 2.6 and 2.41 percent, respectively. Moreover, the volatility of the national currencies of other developed countries in relation to the dollar even higher than that of Bitcoin.
the volatility Index Fiat against the U.S. dollar. Source: tratesfx.com
The British pound, Euro, canadian dollar, Indian rupee and Japanese yen — all currencies of leading world economies. However, their volatility rate of the dollar averaged 2.86 percent, which is higher than Bitcoin. It turns out, the dominant cryptocurrency has become not only more stable but also gives better results than most Fiat currencies.
the volatility Index BTC on March 18-19
While the volatility of Bitcoin in the last year was quite low. As seen in the above chart, the volatility of Bitcoin during most of the year did not exceed 6 percent.
thethe calm before the storm?
However, in the last few weeks, the stock market is hardly stable. Soon we can expect the transition of Bitcoin to a range of high volatility. However, in the long term, the amplitude of surges should be reduced due to the increased adoption worldwide.
The More data you look at . The current rate of coins can be found in our classroom .
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