HomeCryptocurrencyBitcoinWSJ Cites Bitcoin’s Most Volatile Quarter, Facts Say Otherwise

WSJ Cites Bitcoin’s Most Volatile Quarter, Facts Say Otherwise

-

A recent article in the Wall Street Journal critiqued Bitcoin for having an unusually volatile quarter, with prices ranging from peak levels at $5,000 all the way down to $3,000 lows. Such volatility is unprecedented, according to the author who said:

 “Bitcoin more than doubled in price, then plunged by a third in what was a hectic three-month period even by the virtual currency’s Wild West standards.”

 Not uncommon at all

Bitcoin did indeed have a volatile quarter, but not uncommonly so. Rather, the increase in price was followed by a consolidation period coupled with negative news being released regarding China. One observant tweet pointed out that the volatility in Bitcoin price was not, in fact, uncommon.

June 2016: 41% dip
Jan 2017: 37% dip
Mar: 31% dip
May: 33% dip
Jun: 39% dip
Aug: 20% dip
Sep: 37% dip
Not that uncommon actually.

Statistics indicate that volatility is more the norm than a surprise, given the nature of the cryptocurrency. Additionally, the WSJ calculations do not take into account the substantial increase in price from the beginning the quarter as well. While prices did fluctuate, the drop from $5,000 was not as dramatic as the figures would suggest.

LATEST POSTS

Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us

13,033FansLike
3,912FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img