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.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 80% | 42 | $70 223.87 | 0.77% | 5.77% | $1 381 109 487 550 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 72.4% | 50 | $3 561.28 | 0.86% | 0.96% | $427 605 471 744 | ||
3 | USDT | Tether predictions | 93.2% | 1 | $1.000075 | 0.04% | 0.01% | $104 512 208 692 | ||
4 | BNB | Binance Coin predictions | 63.2% | 81 | $611.56 | 4.56% | 6.56% | $91 450 116 665 | ||
5 | SOL | Solana predictions | 56.4% | 88 | $186.31 | 1.37% | 3.80% | $82 797 246 652 | ||
6 | XRP | XRP predictions | 83.2% | 28 | $0.617884 | 1.08% | -2.65% | $33 912 091 915 | ||
7 | USDC | USD Coin predictions | 95.2% | 2 | $1.000084 | 0% | 0% | $32 477 074 684 | ||
8 | DOGE | Dogecoin predictions | 64.8% | 66 | $0.214389 | 9.02% | 36.62% | $30 799 433 262 | ||
9 | ADA | Cardano predictions | 68.4% | 66 | $0.646075 | 0.53% | 1.15% | $22 989 525 617 | ||
10 | AVAX | Avalanche predictions | 60.8% | 87 | $53.98 | -0.20% | -3.17% | $20 374 483 993 | ||
11 | SHIB | SHIBA INU predictions | 58% | 94 | $0.000031 | 1.75% | 11.14% | $18 197 655 004 | ||
12 | TON | Toncoin predictions | 56.8% | 87 | $4.88 | 1.10% | 14.56% | $16 949 497 215 | ||
13 | DOT | Polkadot predictions | 74.4% | 49 | $9.60 | 1.55% | 3.06% | $13 704 230 052 | ||
14 | BCH | Bitcoin Cash predictions | 72% | 60 | $572.85 | 6.51% | 37.82% | $11 275 011 429 | ||
15 | LINK | Chainlink predictions | 78.4% | 42 | $19.00 | -1.37% | 3.10% | $11 156 784 818 |
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