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Bitcoin's gains don't seem "so wild" compared to stocks like Tesla


22 Dec 2020   #Bitcoin

Compared to major market indexes that breached record highs despite the Covid-19 economic fallout, bitcoin appears “less volatile” than before. That’s according to Meltem Demirors, chief strategy officer at CoinShares, which sells investments in digital currencies. “Everything else has become more volatile,” Demirors told CNBC’s “Squawk Box Asia” on Monday. “As we know, volatility is a relative measure,” she said. “In the current environment, bitcoin is actually less volatile than it has been in the past.”

To illustrate the point, the strategist compared the gains between bitcoin and electric carmaker Tesla’s stock. Tesla’s shares, which were added to the broader S&P 500 index on Monday, have soared more than 676% so far this year. Meanwhile, bitcoin has risen about 220% year-to-date as of midnight EST Tuesday, according to Coin Metrics. “If we look at the astronomical rise in the equities market, bitcoin’s rise actually doesn’t feel so wild,” Demirors said.

Following sharp declines early in 2020, markets across the globe have been powered mostly by unprecedented monetary stimulus introduced by central banks worldwide in a bid to keep the economy running. Beyond investors’ shifting perceptions of volatility, Demirors added that the industry surrounding bitcoin has matured and evolved over the last two years.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 82.8% 27 $42 435.30 -3.82% -10.67% $798 843 453 346 $41 875 933 869
2 Ethereum (ETH) ETH Ethereum predictions 72.8% 49 $2 898.43 -7.49% -16.63% $341 018 107 532 $25 119 846 328
3 Cardano (ADA) ADA Cardano predictions 64.8% 78 $2.23 -0.57% -6.34% $71 411 624 055 $5 734 484 720
4 Tether (USDT) USDT Tether predictions 92.8% 1 $1.001440 0.09% 0.11% $68 691 485 942 $92 416 325 974
5 Binance Coin (BNB) BNB Binance Coin predictions 63.2% 78 $352.49 -7.00% -14.45% $59 266 206 180 $2 064 251 017
6 XRP (XRP) XRP XRP predictions 73.2% 48 $0.932568 -6.42% -12.98% $43 567 385 538 $4 641 985 825
7 Solana (SOL) SOL Solana predictions 60.4% 83 $139.49 -5.82% -1.32% $41 467 489 552 $4 041 527 553
8 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $1.000761 0.07% 0.05% $30 432 510 822 $3 991 490 878
9 Polkadot (DOT) DOT Polkadot predictions 66% 74 $30.77 -2.94% -9.08% $30 391 187 124 $3 785 910 016
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62.8% 78 $0.208918 -6.33% -14.44% $27 455 953 723 $2 219 973 271
11 Avalanche (AVAX) AVAX Avalanche predictions 61.2% 82 $73.45 -4.25% 12.05% $16 179 548 858 $2 391 193 014
12 Terra (LUNA) LUNA Terra predictions 68% 61 $34.85 -2.03% -0.58% $13 942 018 660 $2 307 928 114
13 Binance USD (BUSD) BUSD Binance USD predictions 91.2% 1 $1.000668 0.05% 0.05% $13 477 216 401 $6 991 450 944
14 UniSwap (UNI) UNI UniSwap predictions 62% 74 $19.64 -8.12% -20.80% $12 010 497 802 $461 226 982
15 Chainlink (LINK) LINK Chainlink predictions 70.4% 64 $22.80 -7.36% -19.93% $10 361 191 269 $1 641 630 892

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