Bitcoin unstable? Check the British Pound

In what appears to be a stark reversal of the role, Bitcoin is now a less volatile money than the UK’s national currency.

  • according to data From Bloomberg, the volatility of the British pound has increased against the US dollar over 30 days over the past month.
  • Meanwhile, Bitcoin’s volatility has dropped significantly since June, and again since early October. This resulted in roughly equal volatility for every coin.

    The volatility of Bitcoin against the volatility of the British pound. Source: Bloomberg

  • Bitcoin fell as one of the best performing assets in the previous quarter – quite simply Remains Relatively unchanged while stocks and commodities continued to decline.
  • The pound saw turbulent volatility in late September, dropping almost to parity with the US dollar. Meanwhile, the trading volume for the BTC/GBP trading pair throat – An emerging trend between Collapsed coins.
  • Global bond markets are also showing increased volatility against Bitcoin, despite the former’s reputation for safety and reliability, and the latter’s reputation as a risky asset.
  • In the case of the United Kingdom, the Bank of England now has is back To temporary quantitative easing to reduce bond market volatility, which almost caused a “Lehman moment” in September.
  • Many central banks – including former Fed chairs Ben Bernanke He previously denied that bitcoin can be a form of money, in large part because it is so volatile.
  • The Swedish Central Bank introduced a Similar arguments May: “Bitcoin price has a high degree of volatility and is therefore a relatively weak guard,” he explained via Twitter.

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