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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 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 80% 42 $70 223.87 0.77% 5.77% $1 381 109 487 550 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 72.4% 50 $3 561.28 0.86% 0.96% $427 605 471 744 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000075 0.04% 0.01% $104 512 208 692 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 63.2% 81 $611.56 4.56% 6.56% $91 450 116 665 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 56.4% 88 $186.31 1.37% 3.80% $82 797 246 652 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 83.2% 28 $0.617884 1.08% -2.65% $33 912 091 915 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 95.2% 2 $1.000084 0% 0% $32 477 074 684 USDC 7 days price change
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15 Chainlink (LINK) LINK Chainlink predictions 78.4% 42 $19.00 -1.37% 3.10% $11 156 784 818 LINK 7 days price change

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