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Bitcoin [BTC] Myth Buster: Volatility Now Lower Than Multiple Stocks

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Research around Bitcoins volatility in comparison with the equities included in the S&P 500 index reveals that Bitcoin’s realized volatility from the beginning of the year and a 90-day period is better than many stocks. The research finds,

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… bitcoin has exhibited lower volatility than 172 stocks of the S&P 500 in a 90 day period and 155 stocks YTD

Gabor Gurbacs, the Director Digital Asset at VanEck who led the research tweeted,

#Bitcoinoften gets criticized for its volatility. Our research indicates that a significant number of established publicly traded stocks in the #SP500 have been more volatile than Bitcoin.

bitcoin spx volatility
Bitcoin Volatility Vs. SPX Index

While 30% of stocks is a huge number, there are other things to consider in this regards. It is the distribution of stocks in the S&P 500 index. Like crypto markets, NASDAQ and S&P 500 index distribution is skewed towards major indices; top 5-10 stocks account for the majority of the dominance. Hence, there are many low stocks with lower liquidity and market capitalisation. Moreover, the COVID-19 effect on the economy is also an outlier causing massive swings in price. Nevertheless, the narration even confirms with stocks included in the NASDAQ index. Mati Greenspan, the founder of Quantum Economics, noted on the drop in realised volatility compared to Nasdaq. He tweeted,

Bitcoin volatility way lower than the Nasdaq by historic measures.

bitcoin volatiltiy vs. nasdaq
Source: Tweet

The measure of Implied Volatility

The massive open interest (OI) across the options market is calling for tremendous volatility in Bitcoin. Deribit Exchange Market Insights tweeted last night,

$BTC 11k gravitational pull. With July31 11k Calls Open interest at 4.5k (Puts OI 1k) and Implied Vol 50%, longs have a short 24hour window to hope for escape velocity.

Even with the expiration of options and futures contracts today, due to roll-over of contracts, the OI can be expected to remain high. Bitcoin is currently trading at $11,307, 1.62% higher on a daily scale.

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Bitcoin [BTC] Myth Buster: Volatility Now Lower Than Multiple Stocks
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Bitcoin [BTC] Myth Buster: Volatility Now Lower Than Multiple Stocks
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Research around Bitcoins volatility in comparison with the equities included in the S&P 500 index reveals that Bitcoin’s realized volatility from the beginning of the year and a 90-day period is better than many stocks.
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Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Nivesh Rustgi
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com
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Source: https://coingape.com/bitcoin-volatility-multiple-stocks/

Blockchain

A senior BOJ official says the digital yen needs public support for it to become a reality.

According to the Bloomberg report, a senior Bank of Japan’s official said that there is no final decision has been made yet even after the announcement of testing to start next year. The official revealed that a lot depends on the public support for it to go ahead with its central bank-backed digital currency. Kazushige […]

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A senior BOJ official says the digital yen needs public support for it to become a reality. – Coinnounce




























The central bank of Japan’s move to launch a digital currency would be conditional on public support, according to a senior BOJ official.


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Source: https://coinnounce.com/bank-of-japan-official-says-cbdc-needs-public-support/

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Blockchain

Japanese soccer star Keisuke Honda launches his own crypto

Crypto and blockchain matter for the global soccer community.

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A Japanese professional soccer player is launching his own cryptocurrency to boost fan engagement.

Keisuke Honda, former Japan midfielder and currently a captain of the Brazilian professional league team Botafogo, has launched his own token to build new connections with his fans, Cointelegraph Japan reported on Oct. 22.

The so-called “KSK Honda Coin” was launched on Thursday via Rally.io, a blockchain platform for creating video streaming and gaming applications. The new coin is intended to enable fans to interact with Honda.

Holders of KSK Honda token will be able to get exclusive content from Honda as well as interact with the player via private channels on Discord. “We decided to create a social token to build new connections with our most loyal fans,” Honda said.

The world-known soccer player said that the new token will allow him to connect with fans in a more open manner, providing a 100% transparency in knowing who holds coins in the fan community.

The global soccer community is moving deeper into the crypto and blockchain industry in search of new ways of connecting stars with their fans.

On Oct. 15, a top soccer club in Russia’s Premier League — Zenit St. Petersburg — signed on to the blockchain-based gaming platform Sorare to issue collectible and tradeable digital cards. In September 2020, Italian professional sports club SS Lazio signed a multiyear deal with crypto trading platform StormGain, enabling new fan engagement options through crypto.

Source: https://cointelegraph.com/news/japanese-soccer-star-keisuke-honda-launches-his-own-crypto

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Blockchain

Grayscale invests $300m in a day to grow its crypto portfolio

Grayscale Investments continues to grow its cryptocurrency portfolio by adding $300 million in assets…

The post Grayscale invests $300m in a day to grow its crypto portfolio appeared first on Coin Journal.

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Grayscale Investments continues to grow its cryptocurrency portfolio by adding $300 million in assets under management (AUM) in a day

Grayscale Investments revealed that it had added $300 million worth of cryptocurrencies to its digital assets portfolio over the past 24 hours and over $1 billion in the last week. This information was relayed by Grayscale CEO Barry Silbert via a tweet yesterday.

The crypto fund manager noted that it had $6.3 billion in AUM as of October 15. However, it has added $1 billion in cryptocurrencies over the past week, and the company now controls $7.3 billion worth of digital assets.

Silbert stated that the company “Added a cool $300 million in assets under management in one day. The additional sum brings the total assets held under management to $7.3 billion”.

The funds are held in the company’s trust for Bitcoin (BTC) and Ethereum (ETH), in addition to Grayscale’s digital large-cap fund. This latest development comes less than 48 hours after PayPal announced its entry into the cryptocurrency market, with Bitcoin surpassing the $13,000 mark afterwards.

Each Grayscale report is delayed by 24 hours, which means that this data refers to the previous day’s figure.

The cryptocurrency funds manager reported that its Litecoin (LTC) Trust recorded the highest growth since the last report. Grayscale reported that its LTC Trust increased by 7.5%, while their Zcash (ZEC) Trust increased by more than 6% over the past 24 hours. Grayscale also has extensive holdings in other cryptocurrencies such as Ripple (XRP), Ethereum Classic (ETC), Bitcoin Cash (BCH), Horizen (ZEN) and Stellar Lumens (XLM).

Grayscale might be increasing its cryptocurrency holdings after raising massive funds in the third quarter of the year. Grayscale’s financial report for Q3 2020 revealed that it had bought over $1 billion in investment across all its cryptocurrency trusts. This year, Grayscale has raised $2.4 billion, which is more than twice the total amount they obtained for the years 2013 – 2019.

The investment firm revealed that 81% of investment in the third quarter came from institutional investors, while another 57% came from people investing in multiple products.

With the crypto fund manager now holding over $6 billion in AUM, it means that Grayscale controls around 2.5% of the total Bitcoin supply, currently above 18,000 BTC. The Bitcoin supply is capped at 21 million, which means that roughly 2.5 million bitcoins are left to be mined.

Grayscale isn’t the only company that is increasing its stakes in cryptocurrencies at the moment. MicroStrategy recently bought $425 million worth of Bitcoin, and Jack Dorsey’s Square Inc. invested $50 million in Bitcoin.

Source: https://coinjournal.net/news/grayscale-invests-300m-in-a-day-to-grow-its-crypto-portfolio/

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