Experts: oil volatility index exceeded that of bitcoin and ether
Date: 2023-08-17 Author: Karina Ziganova Categories: BLOCKCHAIN
Bitcoin and Ethereum volatility rates dropped to 35% and 37% respectively, analysts at Kaiko said. Both digital assets have proven to be more resilient than oil.
The latter's volatility reached 41% in August, reports Kaiko:
The analysts' conclusions are consistent with the BVIN and BitVol indices for bitcoin, which we covered earlier.
The CBOE Gold Volatity Index has been declining continuously since May 2023. At the time of writing, that figure is 12.4, according to Yahoo Finance:
A similar situation can be seen on the chart of the CBOE NASDAQ 100 Volatility Index. At the time of writing, the figure is hovering around 22, according to Yahoo Finance:
Вitcoin is closely correlated with gold. You can read more about this in our material.
In a comment to Decrypt, Kaiko analyst Dessislava Yaneva called the current market "unusual." She believes that the volatility of bitcoin has decreased as the asset continues to develop.
According to her, the situation in the oil market remains unstable for two reasons - a tense geopolitical situation and "stagnation" in China. After the removal of “covid” restrictions, experts expected a significant increase in indicators in China, but this did not happen, explains Yaneva.
On August 17, 2023, the bitcoin exchange rate “sank” to a level below $28,500. Following this, most of the market moved into the “red” zone.
