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Title: [2016-07-10] Independent: Pound sterling becomes more unstable than Bitcoin... Post by: pawel7777 on July 10, 2016, 08:11:25 PM That's a bit of exaggeration and sensationalism from The Independent, but still a nice press hit: Pound sterling becomes more unstable than Bitcoin following Brexit http://www.independent.co.uk/news/business/news/brexit-pound-sterling-bitcoin-prices-unstable-volatile-exchange-referendum-a7129311.html Quote The British pound has become more volatile than Bitcoin. Bitcoin has long been thought to be the world’s most unstable currency – moving from being worth $2 to $1,137 in the last five years. But that wildly volatile currency is now becoming a safe refuge when compared to the fluctuations in the pound. For a brief period this week, Bitcoin’s 10-day historical volatility – a measure of how much its price has been changing – dropped below that of the British pound. ... Title: Re: [2016-07-10] Independent: Pound sterling becomes more unstable than Bitcoin... Post by: richardsNY on July 10, 2016, 08:26:22 PM Why does the pound gets marked as "more volatile than Bitcoin"? GBP crashed from over $1.40 to around $1.32 last month, and is now slightly below the $1.30 level. In terms of GBP it's indeed quite volatile, but it doesn't come even close to Bitcoin's volatility.
Title: Re: [2016-07-10] Independent: Pound sterling becomes more unstable than Bitcoin... Post by: pawel7777 on July 10, 2016, 08:34:05 PM Why does the pound gets marked as "more volatile than Bitcoin"? GBP crashed from over $1.40 to around $1.32 last month, and is now slightly below the $1.30 level. In terms of GBP it's indeed quite volatile, but it doesn't come even close to Bitcoin's volatility. It was nearly $1.50 actually, so the movement was ~13%. But what Independend did, was to cherry-pick 10 day period when BTC was relatively stable, it would look much different if they used longer period. Title: Re: [2016-07-10] Independent: Pound sterling becomes more unstable than Bitcoin... Post by: richardsNY on July 10, 2016, 08:48:55 PM Why does the pound gets marked as "more volatile than Bitcoin"? GBP crashed from over $1.40 to around $1.32 last month, and is now slightly below the $1.30 level. In terms of GBP it's indeed quite volatile, but it doesn't come even close to Bitcoin's volatility. It was nearly $1.50 actually, so the movement was ~13%. But what Independend did, was to cherry-pick 10 day period when BTC was relatively stable, it would look much different if they used longer period. That makes sense. Somehow when it comes to Bitcoin, news sites over-look things, try to make Bitcoin look bad, make it seem Bitcoin is just a shady ponzi scheme, or in this case provide a different/twisted view that is far away from the reality. We'll probably never get rid of this... |