Cryptocurrencies
Maturing Bitcoin Means Rallies With Less Volatility
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Volatility has always been a defining characteristic of Bitcoin, with price swings usually increasing when new highs are reached. Now it appears the gyrations are diminishing if you take a longer view, which Bloomberg Intelligence commodity strategist Mike McGlone attributes to a natural maturation and greater institutional adoption, including last month’s U.S. launch of the first Bitcoin futures exchange-traded funds. During the largest cryptocurrency’s recent rise to an all-time high of almost $67,000, volatility measured over a 260-day period dropped to around 66, levels unseen since May, when Bitcoin dipped under $40,000.
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