With everyone concerned about crypto market vulnerability and Bitcoin’s [BTC] new low prices ever seen this year, the cryptocurrency’s soaring volatility levels stay underreported. In line with the Bitcoin [BTC] ‘Volatility Index‘ as on 9th Dec., volatility levels on the BTC-USD market have hiked threefold on the month.
The most recent available data for 9th Dec. indicates that BTC-USD volatility hit 5.53 %, as compared with 1.57 % on 9th Nov. at the beginning of the 30-day Volatility Index. As of Nov. 19, volatility has been on the same ascent, from around 2 % to 4.53 % one week later, and so upwards to break higher than 5 % on 29th Nov.
As per the BTC-USD chart for the preceding thirty days — between 9th Oct. and 9th Nov. — volatility didn’t rise higher than 2.06 % at any point, remaining nearer to 1.5 % to 1.7 % for the bulk of the period.
On the BTC-USD 6-month volatility chart, the trend shows a jagged however consistent decrease in volatility as from mid. of Aug. this year — from a six-month high of 3.84 % in mid-aug. right down to a low of simply 0.73 % in mid-November — before the exponential rise in recent weeks.
The last time volatility was at the same level this year was in the mid-march, when Bitcoin was mercantilism around $8,771 USD [10-11 March].
As antecedently ‘reported‘, Bitcoin [BTC] achieved a 17-month low Bitcoin [BTC] Price Volatility Index For Nov.-Dec : Exclusive Report. rate in early Oct., drawing considerable attention from the crypto community, and even the short-lived joke the currency had transpired to become “The Final Stablecoin.”
As of reporting time, Bitcoin [BTC] is trading at a price of around $3,495.56 USD, which is presently 3.05 % lower than yesterday.