As shown in the chart below, Bitcoin’s 90-day volatility versus the annual S&P 500 measure is near the lowest level on record since 2010.
Putting a potential move in context, in 2012, when this relative risk measure bottomed, Bitcoin surged about 130x to the peak and about 40x from a similar base in 2016. History suggests the about 3x gain through Jan. 11 from the summer volatility low and consolidation around $10,000 is quite tame.
Of course, if bitcoin were to rise merely 40x from here, it would be trading above $1 million…
Thu, 01/14/2021 – 04:15
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Author: Tyler Durden