Crypto News

Bitcoin was less volatile than the currencies of developing countries

Over the past several days, the volatility of bitcoin is still weak. In the same period of time the digital currency has shown even greater stability compared to the currencies of developing countries.

The volatility of the Mexican peso, South African Rand and the Brazilian real was higher than the range of variation in BTC for the third time since 2012. This is evidenced by the data service Woobull.

If you look at the chart provided by the analysts, we can see th that before may alvingham (reducing rewards for miners) bitcoin volatility is weakened.

The coin is now trading at $9300. She was able to recover from the losses incurred in mid-March 2020. However, while there is no signal to the explosive growth before alvingham, which has been repeatedly mentioned by many experts.

At the end of April, the volatility index BTC dropped to three-month low, now it is about on the same level.

But over the past two weeks fell a Fiat currency developing States. The greatest loss was suffered not only the commodity currencies such as the Rand and peso, the Chinese yuan.

In an interview with reporters, Reuters currency strategist at Absa Capital’s Mike Keenan stressed that the volatility of Fiat currency is now intensifying. It will weaken only if the pandemic coronavirus will decline and energy markets stabiliziruemost.

Source:

coinspot.io

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